Folli Follie

Banks to auction Folli Follie stake in Attica stores

Greek banks are about to auction off Folli Follie's 35.7 percent stake in Attica Department Stores to recoup funds they loaned to the troubled jewelry group.

The holding was used as collateral for the loan issued to Folli Follie last May, when the group started feeling repercussions after the revelation of discrepancies in its financial reports.

Greek court rejects Folli's request for protection from creditors

A Greek court has rejected a request by Greek jewelry maker Folli Follie for temporary protection from its creditors before it completes a restructuring plan, a judicial source said on Monday.

Folli, whose shares have been suspended since May, said last week that management was producing a revised business plan together with Deloitte for restructuring its operations.