Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The employees of VIKI, one of the largest meat producers in Greece, filed a bankruptcy application on 9 November 2018 at Arta Court of First Instance. The employees remain unpaid since April 2017 and they are in a state of uncertainty as they cannot join the unemployment fund or participate in public competitions. The total wages owed is estimated at around €3 million. The company has stopped its operation since May 2018. Nevertheless, the owners' other companies are working properly.
UPDATE 01/04/2019:
VIKI, was declared bankrupt on March 1 2019 by the Arbitration Court decision 2/2019 after 46 years of operation. This occurred because the employees have appealed for their unpaid earnings. On 19 March 2019, all workers (120 people) were dismissed, and the employees were registered in the Manpower Employment Organisation (OAED) unemployment register. The company has stopped making profits since 2009. Employees have been unpaid for the past two years. The company based union, according to its announcement, is awaiting an auction process in order to find a new buyer of the company and resolve the issue of unpaid earnings.
Eurofound (2019), VI.K.Ι (Meat Industry of Epirus), Bankruptcy in Greece, factsheet number 97697, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97697.
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