New suitor emerges for Folli Follie stake at Attica stores

The stake that the troubled Folli Follie group holds in Attica Department Stores has attracted the interest not only of the retailer’s other shareholders but also that of another investor, Kathimerini understands.

Folli Follie, which has just secured a two-month extension to an injunction protecting its assets from creditors, controls 35.6 percent of Attica and is ready to sell. There has already been some interest expressed by the majority stakeholders – the Lambropoulos, Tsouvelekakis and Sgoubopoulos families.

On Wednesday the witnesses who testified in court in favor of the group’s application for protection said there is another Greek investor who is interested in the Attica stake. They added that the same investor is also discussing his possible entry into Folli Follie’s share capital in the context of the group’s streamlining process. Sources have told Kathimerini that this concerns an investor that Rothschild has found following a request to that effect by Folli Follie.

However, for the activation of the investment, the group’s financial position will first have to be clarified. Representatives of Alvarez & Marsal and Ernst & Young, which have undertaken this project, told the court that this will happen in the coming weeks.