Thursday March 5, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Supermarket chains sense worst is yet to come

By Dimitra Manifava

Supermarket chains in Greece fear that the worst is yet to come for the sector, expecting the price war to escalate to such an extent in the next few months that some will be forced to shut down completely or be bought out cheaply by their competitors.

“We are at the bottom of the recession and the crisis is starting for us,” said Costas Machairas, executive vice president of Delhaize, the parent group of AB Vassilopoulos supermarket and the group’s director for Southeastern Europe and Indonesia. He told a conference in Athens on Tuesday that the sector is heading for conditions of “cannibalism,” with shutdowns and penetration by foreign giants, while consumers may also see a drop in the quality of products.

“I can see a nasty price war coming with parallel imports, fake adverts and sales without value-added tax,” warned the Vassilopoulos strongman, expressing fears that a number of companies which may be healthy today will find themselves facing serious problems by 2016 due to credit problems in the sector.

“Consumers are thirsty for better prices, which entail a number of risks,” seconded Apostolos Apostolakos, the general director for development at the local Sklavenitis chain.

ekathimerini.com , Tuesday April 15, 2014 (22:37)  
Greece has backup plan if March bailout cash fails to arrive, says Varoufakis
Greece, QE programme to top ECB meeting in Nicosia
Greece seeks to plug its ´Bermuda Triangle´ of lost taxes
Draghi details sought as ECB´s QE plan poised to be fleshed out
Greek girl, 17, seriously injured in Rome during school trip
A 17-year-old Greek girl was seriously injured after reportedly falling from a hotel balcony in Rome, Italy, during a school trip. The incident occurred under yet-to-be determined circumstan...
No ´diabolical plan´ to topple Greek government, says Juncker
EU Commission chief Jean-Claude Juncker said Wednesday there was no "diabolical plan" by Spain and Portugal to topple Greeces new hard-left government after Prime Minister Alexis Tsipras acc...
Inside News
SOCCER
Super League restarts, but behind closed doors
Deputy Minister for Sports Stavros Kontonis announced on Wednesday the resumption of the Super League this weekend after it was suspended last week following crowd trouble at the Athens derb...
SOCCER
Marinakis fines Olympiakos players
Olympiakos president Evangelos Marinakis on Monday fined the team 500,000 euros for disappointing performances and called on them to make a «sacrifice» to win trophies or leave. "Olympiakos ...
Inside Sports
COMMENTARY
Greek-Turkish relations
There are other issues beyond those focusing on the economy that the government, formerly of the “Indignants” and currently adapting – willingly or unwillingly – to eurozone realities, is fa...
EDITORIAL
Government policy
The issue of irregular immigration is taking on serious dimensions on an international level, while in Greece it is bordering on crisis levels. The government’s duty is to handle the issue w...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek girl, 17, seriously injured in Rome during school trip
2. No ´diabolical plan´ to topple Greek government, says Juncker
3. Greece has backup plan if March bailout cash fails to arrive, says Varoufakis
4. Greece, QE programme to top ECB meeting in Nicosia
5. Greece seeks to plug its ´Bermuda Triangle´ of lost taxes
6. Draghi details sought as ECB´s QE plan poised to be fleshed out
more news
Today
This Week
1. Greek-Turkish relations
2. Greece struggles to make debt math work amid bailout standoff
3. Draghi details sought as ECB's QE plan poised to be fleshed out
4. Greece seeks to plug its 'Bermuda Triangle' of lost taxes
5. Government policy
6. Greece, QE programme to top ECB meeting in Nicosia
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. A fierce battle looms
3. SYRIZA feeling the pain
4. The Greek tax drama
5. The unlikely winners of Greece's surrender on euro
6. Varoufakis to make six reform proposals at Monday's Eurogroup
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.