Marinopoulos suppliers to offer haircut for preferential terms
Several suppliers contemplating a haircut to the money owed to them by the Marinopoulos supermarket chain intend to ask for more favorable terms in their future transactions with Sklavenitis, the chain that will take over the flagging retailer. They will therefore be seeking favorable treatment in comparison to their competitors, in a form of “loss negotiation.”
“The market needs to find solutions. We will accept having our demands from Marinopoulos written off but will also require preferential terms in comparison with companies that refuse to do that,” the head of a major food company – mostly dairy – told Kathimerini.
Such terms could, for instance, be better positioning on the shelf without necessarily offering any significant discounts to the chain, as well as more shelves with their products and more promotional activities.
On the other hand, there are those companies which believe that in the context of the market’s self-regulation, Marinopoulos should have been allowed to go bankrupt.
A senior official at a flour producer argued that any outlets that close while having a key high-street spot, should immediately reopen under the brand of another chain. This is a view expressed by other suppliers too, as they appear reluctant to supply their goods to Marinopoulos in the current intermediary stage, before the approval of the streamlining agreement by the relevant court and the completion of transactions for the company to start operating under Sklavenitis.
Those who express their acceptance of a haircut and who will supply Marinopoulos with products during this transitional period are taking damage limitation measures ahead of their financial reports but also expect to reap benefits from the stance they have taken. This is because their products will find their way to a broad retail network in Greece, that of Sklavenitis, which has a good reputation among suppliers.
Moreover, the emergence in the market of another major player besides Vassilopoulos (the current market leader) will give them more negotiating leverage and diminish their dependence on one major chain.
