Within the next four to six months, the decision of the Multi-Member Court of First Instance of Thessaloniki is expected to be issued on the bankruptcy petition of the historic winery “Evangelos Tsantalis AE“, according to the assessment expressed by Yota Koromoki, lawyer of the company’s employees, speaking to APE-MPE. The case was discussed today in the Multi-member Court of First Instance, with the creditors of the winery, which is burdened with debts totaling more than 65 million euroto put their majority in favor of the bankruptcy of the company, which has stopped its production since September 2023. Most of the company’s debts are to four systemic banks, Alpha Bank, Eurobank, Piraeus Bank and Ethniki, while in addition of these there are also debts to the tax authorities, the insurance funds and the employees.

As the president of the Workers’ Union in Tsantalis, Sakis Kaligas, informed APE-MPE, the company owes approximately 100 employees more than 2.5 million euro from accruals and lump sums, while 15 of them were retired in the last year and a half, after production had already stopped. “I cannot understand how for such a company with so much history, a colossus in its sector in Greece, there is no interest from even one investor to take it over” observes Mr. Kaligas, who is now retired, but worked in the historic winery for almost 40 years, since 1985.

According to Ms. Koromoki, the total debts to the employees are actually higher and are expected to exceed 3 million. euros, as in addition to the accruals of approximately 2.5 million , to these must be added those concerning the labor consequences, but also the compensations for the dismissals, which are expected to occur after the completion of the procedure. The lawyer also notes that approximately 80 workers have been detained in Thessaloniki for the last year and a half, plus around 20 in Athens.

The countdown for Tsantalis began a long time ago, although as Mr. Kaligas, at the height of the pandemic “we didn’t have time to send wines to the supermarkets”. Previously asked by APE-MPE whether the closure of the Russian market, due to the war in Ukraine, might have worked as a free shot for the company, Mr. Kaligas estimated in one word that it affected the wine industry, which has its headquarters in Agios Pavlos and production facilities/vineyards in Maroneia (Rhodope), Halkidiki, Rapsani and Naoussa (including about 150 acres of vineyards in Halkidiki, 700 especially in Mount Athos, 580 in Maroneia and 200 in Naoussa, while in Rapsani it manages 800). Among the company’s product codes, a wine stands out with a great appeal in the Russian market and a remarkable history, the red “Kormilitsa”which is produced in Metochi of Agios Panteleimon on Mount Athos and has been chosen by the Kremlin to be served at official meals set against the backdrop of Red Square.

In fact, earlier on the company’s website (which at the time of writing these lines was not accessible) mentioned the following story: “It was in 1969 when Evangelos Tsantalis, during a day of hunting on Mount Athos, was forced to seek refuge in monastery of Agios Panteleimon due to a sudden storm. When the rain subsided, Evangelos Tsantalis accepted the invitation of the monks to show him around the monastery and the surrounding areas. As they walked outside, the sight of the old, almost abandoned vineyards in a prime location called Metohi Chromitsas, immediately caught his interest. It was at that moment that the idea of ​​revitalizing the vineyards was born in the mind of Evangelos Tsantalis. An idea that became a life’s work. A year later, Evangelos Tsantalis signed an agreement with the monks of Agios Panteleimons for the exploitation of the vineyards in Metohi Chromitsas, while committing to their complete revival, as well as to the reconstruction of the winery. It was clear from the beginning that this was going to be an extremely expensive project in all its stages. Despite this, Evangelos Tsantalis’ belief in the uniqueness of the terroir prevailed. When the head agronomist pointed out the high cost of the investment, Evangelos Tsantalis replied: “I’m not asking how much he’s making. He’s asking if this vineyard can produce high-quality grapes.”