EMCC European Monitoring Centre on Change

Fourlis S.A.

Company/Organisation:
Fourlis S.A.

Geographic Location

Country: Greece
Region: Ioannina; Ipeiros; Kentriki Ellada
Location of affected unit(s): Ioannina

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.5 - Retail sale of other household equipment in specialised stores
Number Employed: 1496
Group: Fourlis Holdings S.A.

Employment Effects

Announcement Date: 02-06-2008
Type of Restructuring: Business expansion
Employment Effect Start: 01-07-2008
Foreseen End Date: 30-09-2009
Planned Job Creation: 1500

Additional Information

1500 new jobs positions are to be created in Fourlis Holdings S.A., one of the leading groups of companies in Greece and the Balkans in providing quality consumer goods and services. The Group announced on 2 June 2008 its intention to invest 80 million euros for building and operating a shopping mall in Ioannina, Epirus. The construction work, according to the source, will start on July 2008 and due to be completed by September 2009. Fourlis Holdings S.A., consists of 10 companies with 1496 employees, specialising in Retail Home Furnishings through the franchise of IKEA stores in Greece and Cyprus, Retail Sporting Goods through the franchise of INTERSPORT stores in Greece, Cyprus, Romania and Bulgaria and Wholesale of Electric and Electronic appliances through the representation of brand names like Samsung, General Electric, Ariston, Liebherr and Korting.