NEWS

Indebted retail boss refutes reports of arrest

The managing director of the clothing retailer Carouzos 4 Kappa, Manolis Carouzos, turned himself in to the authorities on Friday and issued a statement refuting reports that he had been arrested at his home in Psychiko.

In the statement, Carouzos said that he explained to judicial authorities the circumstances surrounding the company’s debts to the state and submitted the appeal it had lodged in 2011 for protection from its creditors.

Carouzos is continuing efforts to «save and purge the company,» the statement added, noting that there had been delays in the procedure of appealing to the courts for protection from creditors under article 99 of the bankruptcy code.