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.
Hotel / Restaurants Accommodation And Food Service Activities Food And Beverage Service Activities 56.1 - Restaurants and mobile food service activities
100 jobs Number of planned job losses
Announcement Date
20 November 2012
Employment effect (start)
21 November 2012
Foreseen end date
30 November 2012
Description
Costa Coffee, one of the biggest British chains in Greece, is closing its remaining 10 branches in Greece and about 100 employees will be dismissed.
According to media sources, Costa Coffee announced on November 20th, its decision to ‘padlock’ its ten coffee shops in Attica due to the prolonged financial crisis and the decline in turnover since September 2011, when increased VAT rate was imposed on the food/catering sector. As a result, nearly 100 employees will lose their jobs.
Costa Coffee has been operating in Greece since 2007. The chain stretched to 15 branches in Greece, but the number was then reduced to 10, leaving only the shops in Attica. Now, they are forced to close the remaining 4 in Athens city center, four in the capital’s northern suburbs and two in the southern suburbs.
Sources
21 November 2012: Ta nea
20 November 2012: Protothema
20 November 2012: To Vima
Citation
Eurofound (2012), Costa Coffee, Closure in Greece, factsheet number 74551, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74551.
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