Creta Farms in imminent danger of collapse


The creditors of financially distressed deli products company Creta Farms appeared willing last month to lend the company 8 million euros, on the condition that brothers Manolis and Konstantinos Domazakis, owners of 80 percent of the company, put up their shares as collateral.

The pair did not do so and the company, which employs 800 people, is in imminent danger of collapse.

Development Minister Adonis Georgiadis has urged all parties involved to help keep the company afloat.