The historic Tsantalis winery has filed a bankruptcy petition, which is expected to be heard on October 11, at the Thessaloniki Court of First Instance, asking for a date for the suspension of payments.
As the president of the company’s Employees’ Union, Sakis Kaligas, who confirmed the filing of the petition and its hearing date, told APE-MPE, the company has stopped production from August 2023, while for the first time in its history the harvest did not take place, so it cannot bottle and market products of the new vintage.
The news of the bankruptcy filing may have shaken things up, but it was not a bolt from the blue, given that the company was facing persistent problems, despite agonizing efforts to survive and find an investor. Asked whether the interest of Sterner Stenhus-“Hellenic Wineries” in Tsantalis (the company that also acquired Boutaris Wineries) has finally and irrevocably waned, Kaligas made it clear that he did not know: “We only hear rumours, all we are interested in is that an investor finally comes to the company and we can go back in and work again.”
Kaligas has been working at the historic winery for almost 40 years, since 1985, but most of the company’s other employees are also tied to its history and course, having stuck with Tsantalis for at least two and a half decades, the majority of them, he says. At the moment, he clarifies, more than 70 union members are on strike, while similar moves have been made individually by non-member workers. According to reliable information, the company’s liabilities exceed EUR 65 million and concern debts to five banks, the tax authorities, the social security funds and the employees. Turnover has in recent years followed a reverse trend to that of the liabilities. This is despite the fact that, as Mr Kaligas recalls, at the height of the pandemic ‘we did not have time to send wine to the supermarkets’.
Asked whether the closure of the Russian market, due to the war in Ukraine, may have acted as the coup de grace for the historic winery, Mr. Kaligas assessed unambiguously that it affected the winery, which is based in Agios Pavlos and has production facilities/vineyards in Maronia (Rhodope), Halkidiki, Rapsani and Naoussa (about 150 hectares of vineyards in Halkidiki, 700 specifically in Agios Oros, 580 in Maronia and 200 in Naoussa, while in Rapsani it manages 800).
Among the company’s product codes stands out a wine with great appeal in the Russian market and a remarkable history, the red “Kormilitsa”, which is produced at the Metochion of St. Panteleimon on Mount Athos and has been selected by the Kremlin to be served at official meals set against the backdrop of Red Square.
In fact, previously the company’s website (which was not accessible at the time of writing) reported the following story. 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 view of the old, almost abandoned vineyards in an extraordinary location called Metochi Chromitsa immediately caught his interest. It was at that very moment that the idea of reviving the vineyards was born in Evangelos Tsantalis’ mind. An idea that became a life’s work. A year later, Evangelos Tsantalis signed an agreement with the monks of Agios Panteleimon for the development of the vineyards in Metochi Chromitsa, and committed himself to their complete revival, as well as to the reconstruction of the winery. It was clear from the outset that this was an extremely expensive project at all stages. Nevertheless, Evangelos Tsantalis’ belief in the uniqueness of the terroir prevailed. When the chief agronomist pointed out the high cost of the investment, Evangelos Tsantalis replied. He is asking if this vineyard can produce high quality grapes.” The Tsantalis family has been growing vines, making grapes and distilling tsipouro and ouzo since 1890, and is now in its fourth generation.
Tomorrow Saturday, the company’s employees will hold a general meeting, in the presence of a labor lawyer, in order to be more fully informed about the bankruptcy petition.
