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.
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.
Eurofound (2012), Liberis Publications, Bankruptcy in Greece, factsheet number 74543, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74543.