One more chain of stores in Greece decided to close. From October 1, Sprider Stores will no longer function, a decision that has shocked the Greek market.
The company announced on Sept. 30, that it will shut down its stores on Tuesday, Oct 1. According to its announcement, the company argues that the key reason that led it to the closure of its stores around Greece was the banks’ intransigence and their refusal to continue funding the company.
Sprider Stores was founded in 1971 by Athanasios and Spyros Argyros, while in 1999 Xatziioannou Group bought 80 percent of the company. Then the company expanded, with more and more stores in Athens and the province.
“It quickly became the largest Greek multinational chain of “Value Fashion,” as stated on its official website.
The company employs approximately 890 employees.