Consumers, Fast Food/Quick Service Restaurants, Processing, fries, chips, Retail, Trends

McCain Hellas: An economic crisis never seen before in Greece

A distressed pensioner sits on the ground outside a national bank branch, as banks opened only for pensioners to allow them to withdraw their pensions, with a limit of 120 euros, in Thessaloniki, on July 3. (Sakis Mitrolidissakis/AFP/Getty Images)Georges Ghonos, the managing director of McCain Hellas, the Greek division of Canada’s McCain Foods, is a pickpocket’s dream. His black, leather wallet is as thick as a hockey puck. That’s because it is stuffed with €1,200 ($1,670) in cash. “The banks are shut and I need to give some cash to my wife so she can get to the island,” he says. McCain Hellas is screening its 100 or so distributors to make sure they are financially stable. The distributors are typically paid in cash from the mom-and-pop restaurants, fast-food chains and supermarkets that buy McCain’s frozen French fries. If the distributors do not get their cash, they in turn cannot pay McCain. More

Editor & Publisher: Lukie Pieterse


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