ECONOMY

Capital Market Commission inspectors carry out spot check at Folli Follie HQ

capital-market-commission-inspectors-carry-out-spot-check-at-folli-follie-hq

Inspectors of the Capital Market Commission on Thursday carried out a spot check at the headquarters of disgraced listed Greek jewelry retailer Folli Follie in northern Athens, sources have told Kathimerini.

According to the same sources, inspectors went through the company’s data, digital and hard copies, as they took control of executives’ computers and mobile devices.

The surprise inspection is seen as part of the Commission’s efforts to restructure the company and assign responsibility for its troubles.

It came a day after reports that the main shareholder, Dimitris Koutsolioutsos, is seeking to install a new administration at the company’s helm and that he will be petitioning shareholders for the removal of the board’s president and three other members and their replacement with executives from the firm’s existing roster.