Restructuring events
European Restructuring Monitor (ERM)
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.
Notos Com Holdings announced the closure of its historic Notos department store at the junction of Stadiou and Aiolou Streets in central Athens. The announcement was publicly reported on 12 May 2026, and the store is expected to cease operations on 31 August 2026. According to the company, the closure follows the building owners’ decision not to renew the lease, which had expired on 31 December 2024, requiring Notos to vacate the premises. The case affects approximately 300 employees, according to the Athens Retail Employees’ Union. Although the union highlights that the company reported €468,000 in pre-tax profit in 2024, up 105% from 2023, other financial reporting notes that the company recorded a net loss of €1.68 million after tax in the same year.
The company states that the Notos department stores in Piraeus, Thessaloniki and Kalamata, as well as the online store notos.gr, will continue operating normally.
Eurofound (2026), Notos , Closure in Greece, factsheet number 300398, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300398.