BIKH’s fate appears all but sealed

Cold cuts producer BIKH is staring at the prospect that any assets it has been left with might be confiscated, while its 191 employees are joining the unemployment queues. On Wednesday BIKH’s owners withdrew their application for bankruptcy, tabled in May, with which they had secured temporary protection from creditors until Friday, when the case is due to be heard.

Nevertheless the banks, which are the company’s main creditors, are not expected to apply to place BIKH into administration, as the plan had provided for until a few days ago. Kathimerini understands that some creditors expressed reservations about the cost of placing an administrator in the company.

This definitively seals the fate of the Epirus cold cuts company, as all that is left for the creditors – banks, suppliers, the state and the employees – is to proceed to the issue of payment orders.

The problem, however, is that in the meantime the company has sold part of its equipment and transferred some of its trademarks. If a new investor in the company were to emerge, they would have to start the production process from scratch, BIKH employees say.