Folli

Less than 24 hours after a court order was issued for the ejection of George Koutsolioutsos from the board of troubled jewelry-maker Folli Follie, a financial prosecutor on Tuesday filed criminal charges against Koutsolioutsos and his family who founded the company.

A prosecutor has indicted 16 executives of Greek jeweler Folli Follie including its founder Dimitris Koutsolioutsos and his son George Koutsolioutsos.
The criminal prosecution includes allegations of running a criminal organization, forgery and stock manipulation involving members of the Koutsolioutsos family.

A prosecutor has indicted 16 executives of Greek jeweler Folli Follie including its founder Dimitris Koutsolioutsos and his son George Koutsolioutsos.
The criminal prosecution includes allegations of running a criminal organization, forgery and stock manipulation involving members of the Koutsolioutsos family.

The former chief executive officer of Greek jewellery maker Folli Follie has resigned from the company's board, Folli said on Tuesday.
George Koutsolioutsos, the son of Folli's founders Dimitris and Ekaterini, stepped down from the CEO post in December last year after a hedge fund report questioned the company's accounting.

UK-based jeweler Links of London's fall into administration has led to loss of 38 jobs at its head office in London, administrator Deloitte said on Friday, adding that there have been no job losses in any stores.

Greek jewellery maker Folli Follie said on Friday it wanted to ensure that operations at its wholly owned subsidiary Links of London are not disrupted after the UK-based peer entered administration this week.

Folli said that its board intends to work with the joint administrators of Links of London to ensure that "business continues as a going concern post administration."

Greek jewelry maker Folli Follie's Links of London appointed Deloitte as an administrator on Wednesday, putting about 350 jobs at risk and adding to the list of high-profile retailers that have run into trouble on Britain's high street.

Talks between Greek jeweler Folli Follie and creditors over a rescue plan are at a "critical" stage and are expected to conclude in the coming weeks, its chairman said on Tuesday.

Chinese company Fosun has agreed to acquire 75 percent of UK group Thomas Cook's tour operations and 25 percent of its airline business for 450 million pounds (497 million euros) while the group's creditors - banks and bondholders - will put up a similar amount to buy 25 percent of the tour business and 75 percent of the airline business.

Financially troubled jewelry and fashion accessories firm Folli Follie has confirmed it is looking to sell jewelry subsidiary Links of London.

Links has filed for bankruptcy in the United States but continues to operate.

Folli Follie is seeking 60 million euros for all its stake in Links of London, but markert insiders believe the real value is between 10 and 20 million euros.