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 Accommodation 55.1 - Hotels and similar accommodation
150 jobs Number of planned job losses
Announcement Date
31 May 2016
Employment effect (start)
31 May 2016
Foreseen end date
30 June 2016
Description
Athens Ledra, one of Athens’ best known upscale hotels, has closed down and its 150 employees have become jobless.
ASTY, the company that owns the central Athens Ledra Hotel, announced on Tuesday, May 31st 2016, that the 314-room establishment would be closed down. The company cited “financial difficulties”. According to reports, the company’s 150 employees have not been paid their wages since mid-March. Reports vary regarding the extent to which the hotel is in debt however estimates range from between €33 million and €40 million, with the majority of this debt owned by Athens based Alpha-Bank.
Built in 1980, the former Ledra Marriott Hotel has in the past sought to auction off the five-star establishment.
Sources
31 May 2016: Kathimerini
1 June 2016: Ethnos
31 May 2016: Naftemporiki.gr
Citation
Eurofound (2016), Athens Ledra , Closure in Greece, factsheet number 87640, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87640.
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