Location of affected unit(s)
Wholesale Trade, Except Of Motor Vehicles And Motorcycles
Wholesale On A Fee Or Contract Basis
46.17 - Agents involved in the sale of food, beverages and tobacco

13,000 jobs
Number of planned job losses
Job loss
Announcement Date
28 June 2016
Employment effect (start)
16 January 2017
Foreseen end date
14 February 2017


Marinopoulos, one of the largest supermarket chains in Greece, filed for bankruptcy and as such, 10,800 employees were threatened with redundancy. According to Greek news, the supermarket filed for bankruptcy on Tuesday, 28 June 2016 due to overwhelming debts, and stated that the sale of their entire asset base would only cover 21.7% of their outstanding debt. Their entire workforce, some 13,000 employees have subsequently been laid off. 

Marinopoulos opened in Athens as a small pharmacy in 1893 with successive generations of children and grandchildren expending the business with major international partnerships with global giants like France’s Fnac and Carrefour and Seattle-based Starbucks. Carrefour Marinopoulos, created in 1999, was a 50-50 joint venture between the Greek Marinopoulos Group and the French Carrefour Group and was a robust business until 2012 when Carrefour decided to withdraw due to the Greek crisis leading to a decline in the chain’s market shares.

UPDATE 16/01/2017 Athens Court of First Instance has issued (16 January 2017) a decision approving a merger plan for Marinopoulos with Sklavenitis Group. The new company will be owned and managed by the latter. According to a previously negotiated deal between the two companies, 14 February 2017 is the final date for completing it. Although there are no official announcements on the preservation of the 13,000 positions it is believed that every effort will be made to preserve all jobs in the new company.


  • 28 June 2016: Imerisia
  • 29 June 2016: Kathimerini (www.kathimerini.gr)
  • 16 January 2017: Naftemporiki
  • 16 January 2017: Ta nea


Eurofound (2016), Marinopoulos, Merger/Acquisition in Greece, factsheet number 87998, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87998.