The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Publishing Activities 58.14 - Publishing of journals and periodicals
500 jobs Number of planned job losses
Announcement Date
7 November 2012
Employment effect (start)
8 November 2012
Foreseen end date
31 December 2012
Description
Liberis publications, one of the leading Greek publishing houses is closing down and 500 employees will be left without a job.
According to an announcement by Liberis publications' CEO on 7.11.2012, after 32 years of operation the company is closing down as it did not manage to get a rescue loan. Liberis publications had contracted Deloitte to carry out a viability study, according to which the company was sustainable, yet the banks refused to provide a loan that would safeguard the continuation of Liberis’ activities and the 500 jobs.
Within the next days some of Liberis Publications title deeds, including Ego and Status magazines, will be transferred to Attica Media Publications. However, so far there has been no mention of the international title deeds including magazines such as Vogue, Men’s Health, and Glamour.
Liberis Publications Group is also involved in the radio stations VFM and BEST Radio.
Sources
7 November 2012: To Vima
7 November 2012: Proto Thema
7 November 2012: Agelioforos
Citation
Eurofound (2012), Liberis Publications, Bankruptcy in Greece, factsheet number 74543, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74543.
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