According to a recent letter sent by Stelios Sklavenitis owner of the supermarket chain, Sklavenitis, to the newly acquired Marinopoulos, part of the stream-lining process of lifting up the failed supermarket chain will entail the stores to start operating under the Sklavenitis logo.
The letter dated September 23, also reached out to suppliers asking them to help stream-line the two businesses by accepting a 50 percent haircut on debts owed by Marinopoulos, or if they chose to go against the process, they risk not receiving any of the money they are owed.
“The non-achievement of the necessary consent, given that no other sustainable plan to streamline the company has been submitted, would make any debt repayment to suppliers on behalf of the Marinopoulos group impossible,” Mr. Sklavenitis wrote in his letter.
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