One in three shops have shut in Thessaloniki

With just a few hours left before the opening of this year’s Thessaloniki International Fair, the decline of the city?s commercial center is more than apparent as three in 10 enterprises have shut down.

Popular streets such as Aghias Sofias (photo) have seen a succession of closures, at a rate, on this particular stretch, of 34.2 percent, according to data released on Thursday by the National Confederation of Greek Commerce (ESEE).

Even on the city?s most popular shopping strip, Tsimiski Street, the closure rate has increased by 33 percent in the last six months, to 20.4 percent.

Commercial property owners have resorted to reducing lease rates dramatically or to splitting their properties in two or even three so as to secure tenants.

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