The lingering Greek recession has claimed the Costa Coffee chain, an English-operated chain that said it will shut down its 10 stores in the downtown of Athens and suburbs, including Kifissia, Monumental Plaza, and the Marousi shopping center.
Company officials said they did what they could to keep the stores operating but business has dried up, especially as the chain didn’t lower prices while competing businesses in a city where coffee houses are everywhere dropped prices to as low as 1 euro, four to five times less than Costa.
The company opened in Greece only five years ago, three years before the crushing economic crisis began. Coffee house drinking and lingering is one of the favorite past-times for Greeks, and the closing shows how deeply the recession has cut into spending patterns.
(Source: Capital.gr)
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