ECONOMY

Furniture firm Neoset likely to close after failing to get protection from creditors

Greek furniture manufacturer Neoset look set to go out of business after failing to get protection from its creditors, Capital.gr reported on Monday.

The company owes 58.5 million euros. Some 50 million euros of this is bank loans. Neoset’s assets are valued at 78 million euros.

Some 140 people worked at Neoset’s factor in Halkida, while the group employed close to 1,000 people in total.