An agreement has been signed between Marinopoulos and Sklavenitis supermarket chains and the four creditor banks of Marinopoulos. This agreement outlines the terms of the rescue plan of troubled supermarket chain and which aims at saving 11,000 jobs, support suppliers and the retail sector.

According to the statement issued by Sklavenitis, this agreement was the first in a series of important steps that are necessary in order to reach this goal. With the necessary funding from the creditor banks and Sklavenitis, the Marinopoulos stores will gradually resume normal operations by covering wages, rent and other basic operation costs.

Marinopoulos underlined that the agreement heralds the gradual return to normality and expects the plan to be fully implemented in the next few months. The agreement, the Marinopoulos statement notes, is an important step towards a sustainable solution, which has been the company’s top priority. The gradual transition to Marinopoulos, under the administration of Sklavenitis, the statement concludes, will be beneficial for both customers and the community.