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.
Atlantic Supermarket chain declared bankruptcy and its 800 employees lost their jobs.
Atlantic Supermarket announced at the beginning of September 2011, that under a decision of the Multi Member First Instance Court of Athens, the Companyhas been declared bankrupt. Its 800 employees have been fired as the chain did not have the available sources to continue operating. The supermarket chain has been fighting for years to stay in business and was forced to sell off its branches piece by piece.
The company owned 22 branches all over Greece in 2009, but by 2011, only 30 were operating.
Eurofound (2011), Atlantic, Bankruptcy in Greece, factsheet number 72378, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72378.