Carrefour Cyprus operator unaffected by parent company problems

The operation of Carrefour and Carrefour Market retail shops in Cyprus remains unaffected by the decision of Greece’s Marinopoulos to request for protection from creditors, the Cypriot operator, Chris Cash & Carry Ltd, said.

Chris Cash & Carry is an independent legal entity (and) has a separate legal and operational independence,” the company said in an emailed statement on Thursday. “Therefore, it is not affected by developments in Greece”.

The Greek company, which owns Carrefour Cyprus, on Wednesday filed a request for temporary protection from its creditors in a bid to implement a restructuring plan. Reuters reported that Marinopoulos is likely the victim of an ongoing recession in the country.

Marinopoulos employees 12,500 people in Greece and operates more than 800 outlets.

Chris Cash & Carry, which operates 18 outlets in Cyprus and employs 1,170 workers, “continues to operate normally” and will implement its 2016 growth plan, the company said.

News on Marinopoulos’s decision to seek creditor protection, sparked concern among Carrefour suppliers in Cyprus, a business source said on Wednesday. Suppliers of Orphanides Supermarket incurred huge losses after the company failed in 2013.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.