ECONOMY

Over 250,000 companies shuttered as of Wednesday

over-250-000-companies-shuttered-as-of-wednesday

Over a quarter of a million companies will be shuttered in Greece as of today, as after the approximately 167,000 corporations that had ceased operations up until Tuesday due to the coronavirus measures, another 85,000 will be added on Wednesday, with the closure of many different types of stores, including clothes shops.

The shutdown of the 251,419 enterprises, according to the register of the Hellenic Statistical Authority (ELSTAT), involves about 25 percent of all enterprises in Greece and some 1 million employees, most of whom are salary workers, while their total turnover is estimated at 28.7 billion euros on an annual basis.