NEWS

Jetoil gas company owner found dead, suicide suspected

The cofounder and owner of bankrupt gas company Jetoil was found dead in his home in the northern Athenian suburb of Dionysos on Sunday afternoon.

Kyriakos Mamidakis, 84, was found by his son-in-law at around 2 p.m. The presence of a gun near his body suggests he may have taken his own life.

Jetoil recently filed for bankruptcy and protection from its creditors after amassing debts in excess of 314 million euros.

The company, owned by the Mamidakis Group, attributed its debts to the economic contraction, the slowdown in international economic activity, which has affected demand in the fuel market, and the reluctance of local banks to finance its activities, mainly through guarantees for oil imports.

Of Jetoil’s debts, some 184 million euros are owed to banks, 87 million to suppliers, 2.5 million to the Greek state, 650,000 euros to the social security funds and 920,000 euros to its employees, among others.

The company was founded in the late 1960s by brothers Kyriakos, Giorgos and Nikos Mamidakis.

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