ATHENS- Greek electronic appliances chain 'Elektroniki Athinon' has declared bankruptcy following a court decision on Wednesday. In a statement released on Wednesday, the company cited the state of the local economy, the weakening of Greek consumers' purchasing power, the imposition of capital controls last year and a suspension of a restructuring plan among the reasons behind its insolvency. The company’s 45 outlets in all over the country were expected to be closed on Thursday. The closure of 'Elektroniki Athinon' means that 450 employees- workers and staff- are thrown into unemployment.
Dynamic response from the workers.
The struggle committee of 'Elektroniki's employees issued an announcement regarding the rapid developments in the company, where it states among other things: