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.
Athens Imperial, a five-star hotel in Athens, is closing down and its 100 employees will be made redundant. The Marketing Department of the hotel announced on 30 May the Group's decision to close the doors of Athens Imperial on 31 May. Decline in tourism, particularly in the region of Athens and serious financial problems were given as the reasons for this decision.
According to some media sources there are plans to absorb the dismissed staff by other hotel units; however, there has been no such official announcement from the group yet.
Athens Imperial is one of nine city classical hotels belonging to N. Daskalantonakis Group. It is considered as one of the most prestigious 5 star hotels in Athens.
Eurofound (2012), Athens Imperial, Closure in Greece, factsheet number 73660, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73660.