BUSINESS

THESgala restructuring to bring about shake-up

TAGS: Business, Food

Dairy cooperative THESgala, which brought consumers the option of buying fresh milk and other dairy products at coin-operated vending machines, is about to change the way it distributes and sells its produce, according to the streamlining plan that has been submitted as it seeks to restructure its heavy borrowing.

The Thessaly and Pieria cooperative further intends to promote some innovative products through supermarket chains, expand its portfolio to high profit margin products such as ice cream, and gradually disengage from fresh milk retailing.

THESgala’s debts currently exceed 20 million euros, and the application for their restructuring will be heard at a Larissa court on December 3.

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