Supermarket chain reaction after Marinopoulos fall far from over

The steady drop in consumer spending combined with the problems in the market resulting from the crumbling of the Marinopoulos supermarket chain a year ago continues to hurt suppliers.

IRI researchers have found that Greek supermarkets' total sales declined 6.5 percent on an annual basis in 2016. This year they are expected to shrink an additional 2.3 percent and in 2018 another 1.5 percent.

Several suppliers, mainly small businesses, are on the brink of bankruptcy after 50 percent of Marinopoulos's debts to them were written off. Federation of Hellenic Food Industries (SEVT) officials say some of those companies could be forced to close.

The same risk may not be visible among major groups, but their financial results have been significantly affected by the write-offs, as well as by the drop in sales as their products were not available at the biggest retail...