ECONOMY

Dozens of firms file for protection

Hundreds of companies are facing the specter of closure and filing for protection from their creditors in the hope that economic activity in Greece will recover. Kathimerini understands there are already 1,000 companies with protection status provided for by Article 99 of Law 3588 of 2007, while the number of applications for protection is far greater. Out of the firms whose protection status has been approved, there are 12 listed companies. A survey by the General Confederation of Greek Small Businesses and Traders (GSEVEE) found that 176,600 companies are at risk of closing by the end of next year.