ECONOMY

Dozens of stores closing in Piraeus

The consequences of the financial crisis are being felt more strongly in Piraeus, where the number of enterprises that have closed in the last year have more than trebled compared to the year before. Dozens of stores, such as this one in central Piraeus, have been forced to close down in the last few months. According to data by the Piraeus tradesmen association, 56 shops had closed on September 1, 2009, which rose to 87 by June 3, 2010, to 103 by July 31 and exceeded 170 by October 22. A recent study by research company ICAP showed that across Greece, 200 enterprises went bankrupt in the first six months of this year, while more than 1,000 sought protection from their lenders and suppliers in the same period.