Greek court provides temporary relief from creditors for Cretan delicacy firm

Α Decrease font Enlarge font
Greek court provides temporary relief from creditors for Cretan delicacy firmThe ruling temporarily prevents obligatory collection measures - mainly by creditor banks and vendors - as well as the preventive seizure of property and freezing of bank accounts up to the figure of outstanding debts to creditors

Troubled luncheon meats maker Creta Farms, among the largest such enterprises in Greece, on Wednesday, was granted protection from creditors by a first instance court in the Crete city of Rethymno, with the judge ruling that the company is eligible under Article 106a of the bankruptcy code, according to naftemporiki.gr.

The ruling temporarily prevents obligatory collection measures - mainly by creditor banks and vendors - as well as the preventive seizure of property and freezing of bank accounts up to the figure of outstanding debts to creditors.

Creta Farm describes its story at its site as follows:

"In the beginning, there was oil. Olive oil, from an island full of olive trees, sun, and fresh products of the Mediterranean diet. The island of Crete where the sacred tree comes from and where Stylianos Domazakis founded in 1970 the first organized pork meat production unit, growing his own animals on his own farm.

The years passed and the current owners, the brothers Emmanuel and Constantine Domazakis, have taken over. From then until now, when the company has grown and become active abroad, the vision of the company has not changed, but grown stronger: to share with the world the importance of the good Cretan diet, the value of olive oil, the importance of high quality.

Until today, Creta Farms has continued to produce pure products of high quality and rich taste, having the Mediterranean Cretan diet always as a focal point, glancing at the future and innovation.

It has always its people and the consumers in its heart, one inspiring the other to make people live and eat better.

In 1970, the Domazakis family established the first organized pork meat production unit. In Rethymno, Crete, at Latzima which belonged to the former township of Prinos in the Municipality of Arkadi, Stylianos Damazakis started the history.

After nine years, in 1979, the individual companies of the Domazaki family were consolidated as a joint-stock company, thus founding the “Zoi Emm. Domazaki S.A.”.

By buying the market and the future, next to the pork meat unit, we created in 1987 also a unit of deli meat.

In 1990, the Domazaki brothers assume the management, and in parallel, the unit in Latzia, Rethymno, Crete, is expanded.

From 1993 to 2000, the company evolved and expanded. The facilities at Latzimas in Rethymnon, Crete, doubled and 5 branches were set up in cities throughout Greece: Heraklion Crete, Athens, Thessaloniki, Larissa, and Patras.

Εn Elladi deli meats are made with extra virgin olive oil in its natural form, while the animal fat has been removed

The continuous improvement brought the need for expansion-investment, totaling € 26 million. Thus, in 2002, the company purchases 14.5 hectares of land in Kryoneri, Attica, and builds new facilities, while it obtains in parallel equipment of "KARNA S.A.".

In 2004, we founded “Creta Farms (Cyprus) Ltd.”, the firm’s subsidiary in Cyprus.

Immediately afterward, in 2012, we came closer to our vision. We launched the "En Elladi Mediterranean" and turned into a food company. The product began to be exported to Australia, and we at Creta Farms began to focus more specifically on a new large market with unlimited growth prospects in Greece and abroad.

Until 2018, our guide at Creta Farms is our passion for quality food. We continue to innovate with the only meat in the world which has an amazing taste, as it is raised with virgin olive oil and Cretan herbs, offering the consumer the unique "En Elladi gyros".

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinationsGreek travel marketGreek tourism statisticsGreek tourism report

 

Tornos
  1. 10/12 02:36

    Museum of Cycladic Art in Athens honors American sculptor Lynda Benglis

  2. 10/12 02:29

    Greek PM: National Transparency Authority Is a significant innovation

  3. 10/12 02:24

    Greece's Yorgos Lanthimos wins Best European Director for 2019 in Berlin

  4. 10/12 02:16

    Costas Vlassis sworn in Deputy Foreign Minister for Greek Diaspora

  5. 10/12 02:00

    First Greek Orthodox Church is constructed in Tanzania

  6. 09/12 23:44

    Finance Minister at NY Capital Link forum: Greek economy returning to normalcy

  7. 09/12 23:24

    New project will form first ever archive of Greek-American music (video)

  8. 09/12 22:19

    TrainOSE adds two trains to the Athens-Thessaloniki routes during Christmas

  9. 09/12 21:47

    Libyan House of Representatives speaker to UN: Turkey-Libya deal is invalid

  10. 09/12 21:10

    Greek Energy Minister in Madrid for the 25th UN Climate Change Conference

  11. 09/12 20:00

    Hellenic Republic Asset Development Fund: Tender to sell DEPA Infrastructure

  12. 09/12 18:29

    Greek PM to US firms: Add investments in Greece to your financial agenda

  13. 09/12 16:39

    Foundations laid for Onassis National Transplant Centre in Greece

  14. 08/12 14:35

    Four Greek scientists participate in NASA’s ”Touch the Sun” mission

  15. 08/12 14:30

    Archangel Michael Church Greek Language Institute’s presents new curriculum

  16. 08/12 14:27

    Greek government's new benefits policy includes easing fostering and adoption

  17. 08/12 14:21

    Pancyprian WIN’s Christmas Party in Glen Cove of New York on December 11

  18. 08/12 14:14

    Social dividend of 700 euros credited to beneficiaries in Greece by end of year

  19. 08/12 14:09

    Minister: Expat Greeks a great asset for unity when nation is challenged

  20. 08/12 14:04

    Primary residence protection on outstanding loans extended in Greece to April 2020

  21. 08/12 13:45

    President of Libyan House of Representatives to visit Greece

  22. 08/12 11:54

    Christian and Muslim leaders’ declaration against domestic violence in Greece

  23. 07/12 20:36

    'Stranded' rosy pelicans flown by plane from Cyprus to Lake Kerkini in Greece

  24. 07/12 18:16

    Greek FM: Libya's Ambassador given 72-hour deadline to leave the country

  25. 07/12 02:21

    Signing of the «golden» contract for Athens Metro Line 4 imminent

  26. 07/12 02:15

    Greek metallurgy firm becomes Aluminium Stewardship Initiative member

  27. 07/12 02:08

    EU VP Schinas and Commissioner Johansson conclude migration talks in Turkey

  28. 06/12 23:44

    Labor Ministry bill foresees big handout for every baby born in Greece

  29. 06/12 23:25

    Sharp increase in issuing of Golden Visas by Greece

  30. 06/12 23:05

    New delay in Athens Hellenikon casino project license award

  31. 06/12 21:18

    UN migration head appeals to EU to ease refugee pressure in Greece

  32. 06/12 18:54

    Canada’s PM Trudeau meets Greek counterpart Mitsotakis at NATO Summit

  33. 06/12 17:45

    Greece gains double benefit from latest Eurogroup meeting

  34. 06/12 15:39

    Athens opens door for Chinese investments in Greek telecommunications

  35. 06/12 14:05

    High Court rules Greek State must cover emergency private health care

  36. 06/12 13:33

    Greek Finance Minister announces €700 social dividend for 250,000 households

  37. 06/12 12:49

    Mystery Santa Claus brings joy to orphaned children in Volos, Greece

  38. 06/12 11:47

    Pontian Genocide conference held in Athens over the weekend

  39. 06/12 01:45

    Athens more sparkling and magical than ever this Christmas - full program of events

  40. 06/12 01:44

    Greek economy growth to exceed 2% in 2019 due to tourism

  41. 06/12 01:25

    Pantanassa Monastery in path of fires in New South Wales of Australia

  42. 06/12 01:21

    First snow of the season falls in Trikala and Thessaloniki in Greece (video)

  43. 06/12 01:20

    SNFCC sessions presents Greek-British artist Alex Kapranos in Athens

  44. 06/12 01:17

    Israel rebukes latest instance of 'Turkography' in the east Mediterranean

  45. 06/12 01:04

    Enjoy the great benefits of Greek chamomile tea

  46. 06/12 01:01

    CNN: Colorful Greek street on Mykonos island among most beautiful in the world

  47. 05/12 23:32

    New single framework for insolvent borrowers to be launched in Greece

  48. 05/12 23:21

    Greek President urges for dialogue among cultures at Academy of Athens event

  49. 05/12 23:11

    Athens approves Vatican’s ‘humanitarian corridor’ for asylum seekers

  50. 05/12 23:04

    Prime Minister: Greece relies on EU solidarity to address refugee crisis

  51. 05/12 23:01

    Kalamata Municipal Council blocks 5G pilot program due to health risks

  52. 05/12 22:47

    4.52 billion in tax arrears covered by 120-month installment plan in Greece

  53. 05/12 22:25

    The Travel lists 20 tips by Santorini locals for tourists in iconic Greek island

  54. 05/12 18:44

    Moon rocks from Apollo 11 on display at Athens National Observatory

  55. 05/12 16:35

    Greek Diaspora Minister Diamataris's statement following his resignation

  56. 05/12 16:09

    Envipco Automated Recycling Plant inaugurated by PM in Greece

  57. 05/12 14:54

    INSETE: Greek listings on Airbnb and HomeAway reach €1.15 billion in revenues

  58. 05/12 14:37

    Greece offers impressive tax breaks to attract affluent foreigners

  59. 05/12 14:21

    Temperatures drop below zero in ski resorts of Greece

  60. 05/12 14:06

    ELSTAT: Greek economy grew 2.3% during third quarter of 2019

  61. 05/12 10:55

    Athens International Science Film Festival returns for 13th consecutive year

  62. 05/12 10:32

    Religious Tourism: Visit Monastery of Agia Varvara Roussanou in Meteora

  63. 04/12 23:16

    New platform support vessel acquired by Hellenic Navy at historic Salamina site

  64. 04/12 22:43

    UK PM Boris Johnson unveils he reads Greek poetry to relax (video)

  65. 04/12 22:16

    Northern Greek city of Thessaloniki in search of its very own Santa Claus

  66. 04/12 22:10

    Tourism's carbon emissions measured in UNWTO report at COP25 (video)

  67. 04/12 22:06

    Fly safely and drink responsibly campaign launched in Norway

  68. 04/12 21:07

    Piraeus manager Cosco takes share in Bilk container terminal in Hungary

  69. 04/12 20:52

    Telecom provider Wind Hellas to get first offers during this month

  70. 04/12 20:39

    First relief for Greece's tax-battered middle class after 10 years of crisis

  71. 04/12 20:09

    US Ambassador hails reopening of Neorion Shipyard on Greek island of Syros

  72. 04/12 19:57

    Greek PM backs North Macedonia and Albania European Union hopes

  73. 04/12 19:40

    New flights to Greece in Summer 2020

  74. 04/12 19:24

    Greek Tourism Minister announces targeted action plan for U.S. market

  75. 04/12 19:17

    Religious Tourism: Catholic Archbishop of Malta visits Ecumenical Patriarchate

  76. 04/12 18:58

    US Ambassador in Athens warns that China may use cash-hungry Greece

  77. 04/12 18:30

    Minister: University reform to include performance-linked funding in Greece

  78. 04/12 18:00

    EU "in full solidarity with Greece and Cyprus" on Turkey-Libya MoU

  79. 04/12 17:35

    26W T-bill auction by Greece nets €812.5 million with negative yield of 0.02%

  80. 04/12 16:15

    Air Cargo peak season off to slow beginning during October 2019

  81. 04/12 14:24

    Average full-time private sector monthly salary in Greece reaches €1,166.76 in May

  82. 04/12 12:47

    Enjoy the traditional Greek loukoumades

  83. 04/12 10:10

    Greek PM to address meeting on the sidelines of NATO's anniversary

  84. 04/12 01:37

    Minister: Bilateral relations between Greece and Israel at an exceptional level

  85. 04/12 01:27

    Greek PM discusses tourism investments with top fund managers in London

  86. 04/12 01:16

    Greek PM to meet with Turkish President on the sidelines of the NATO Summit

  87. 04/12 00:52

    City Break report: Visiting popular Greektown spots in Detroit

  88. 04/12 00:07

    Greek health monitoring startup attracts attention of Johnson & Johnson

  89. 03/12 23:51

    Prime Minister: Greece fully supports EU targets to fight climate change

  90. 03/12 22:44

    Greek Foreign Minister meets with EU Representative for Foreign Affairs

  91. 03/12 22:35

    Bank of Greece chief working towards other systemic solutions for NPLs

  92. 03/12 22:20

    Technical solution for Thessaloniki Metro Venizelou Station greenlighted

  93. 03/12 21:05

    State Department: Turkey-Libya zones deal 'unhelpful and provocative'

  94. 03/12 20:52

    Piraeus Bank staff on strike actions on Wednesday and Thursday over layoffs

  95. 03/12 16:36

    European Union seeks clarifications from Cyprus over citizenship scheme

  96. 03/12 16:10

    Greek Labour Minister unveils plans for transition to digital age

  97. 03/12 14:34

    Survey: Samaria Gorge attracts tourists to Greek island of Crete

  98. 03/12 14:04

    Cold front from the Balkans to affect Greece from Tuesday to Thursday

  99. 03/12 12:52

    European Union Refugee Commissioner promises that Greece will get help

  100. 03/12 10:56

    Greek artist Dimitris Papaioannou debuts at Brooklyn Academy of Music