Chandalis: Within the next 6 months it is brought to bankruptcy

Within the next 4 to 6 months, the decision of the Polymelos of Thessaloniki on the application of the historical winemaking “Evangelos Chandalis AE”, according to the assessment made by Yota Koroboki, the lawyer of the employees in the company, is expected to be taken. The case was discussed today (10.1.2025) in the Multilateral Court of First Instance, with the winemakers, who are charged with debts totalling more than EUR 65 million, being put to the majority in favour of the company’s bankruptcy, which has ceased production since September 2023. Most of the company’s debts are to four systemic banks, Alpha Bank, Eurobank, Piraeus Bank and National, while there are also debts to tax, insurance funds and employees. CORVERSE As the Chairman of the Workers’ Association in Chandalis, Sakis Kaligas notified the APE, the company owes about 100 employees over 2.5m euros of accrued and single, while 15 of them retired in the last year and a half after production had already stopped. “I cannot understand how for such a company with so much history, huge in its industry in Greece, there is no interest from even one investor to take over it,” observes Mr. Caligas, who retired now, but worked in the historic winery for nearly 40 years, since 1985. According to Mrs Koroboki, the total liabilities to employees are actually higher and are expected to exceed EUR 3 million, as in addition to the accrued amount of around EUR 2.5 million, those relating to the employment contracts, as well as compensation for redundancies, which is expected to arise after the completion of the procedure, must be added to them. The lawyer also notes that in Thessaloniki they have been on hold for about a year and a half, about 80 employees, plus 20 in Athens. The countdown for Chandalis began a long time ago, although as Mr. Caligas recalls, at the height of the pandemic “we had no time to send wines to the supermarkets.” Asked earlier by the APE-AME whether the closure of the Russian market, due to the war in Ukraine, may have worked as the coup d’état for the company, Mr. Kaligas single-wordly appreciated that it influenced the winery, which is based in Agios Paul and production facilities/vines in Maronia (Rodope), Halkidiki, Rapsani and Naoussa (s. about 150 acres of vineyards in Halkidiki, 700 especially in Mount Athos, 580 in Maronia and 200 in Naoussa, while in Rapsani it manages 800). Among the company’s product codes stands out a wine with a great impact on the Russian market and a remarkable history, the red “Cormilitsa”, which is produced in Metohi of St Panteleimon on Mount Athos and has been selected by the Kremlin to serve at the official meals listed under the background of Red Square.