Bread Factory is seeking the immediate unfreezing of the bank accounts belonging to its parent company and the eight companies operating outlets across the Bread Factory network.

Koulourades General Supply Single-Member Société Anonyme has submitted a memorandum to the president of the Authority for Combating Money Laundering, requesting the release of the accounts.

The memorandum states that the nine companies affected by the account freezes imposed as part of the investigation into the Choriatiko criminal network have no corporate, managerial or financial links to the accused individuals or their network, as the Bread Factory trade name has been transferred.

The memorandum was submitted last Tuesday, 27 October, and signed by the company’s chairman and chief executive, Dimitrios Grivas. It warns that if the accounts remain frozen, the operation of the outlets will be threatened. The network has generated hundreds of thousands of euros in payments to the state and social security funds in just seven months and employs approximately 1,000 people.

“The extension of the freeze to our accounts can, in our view, only be attributed to an obvious error in identifying the persons and accounts covered by the order, most likely because they share the same trade name,” the memorandum states.

The document sets out the company’s shareholding structure in detail, seeking to demonstrate that the current Bread Factory network is a separate business entity from the one previously associated with the brand and Giannakopoulos.

Koulourades General Supply Single-Member Société Anonyme was established on 26 February 2026 and is wholly owned by Cyprus-based Yelisee Limited, whose sole shareholder is Koulourades Holding S.A.

According to the information cited by the company, 70% of the latter is owned by Pablania Limited, through which it is linked to Artizan Hellas S.A. and Taizoon Fakhruddin Khorakiwala, head of the international food group Switz, which has been investing in Greece since 2017.

The company says the Bread Factory trademarks – six Greek and two European registrations – were transferred to Yelisee Limited under a private agreement dated 2 October 2026, which received digital certification on 5 October.

The transfer agreement describes the transaction as “final, unconditional and immediately effective upon signature”. According to the company, the previous owner retains no right to use the trademarks.

Management stresses that the current network was established through new companies, fresh capital, different shareholders and a new management team, without succession from the companies that previously used the brand.

The company also cites the tax and social security obligations it has met since the network began operating.

According to the memorandum, value-added tax (VAT) due on returns filed by the central supplier amounted to €287,003.27 for the period from May to September. A further €44,005.24 is reported for the eight franchisee companies.

Evidence of social security contribution payments totalling €282,018.25 for four franchisee companies has also been submitted, along with proof of €37,604.43 in payroll tax and other liabilities to the Independent Authority for Public Revenue (AADE).

On the basis of these figures, management argues that the network has paid more than €650,000 in VAT, social security contributions and withholding taxes over seven months.

The memorandum warns that the blanket freezing of the bank accounts is creating an immediate operational problem for the outlets, making it impossible to carry out essential financial transactions.

According to the document, if the measure remains in place, supplies could be interrupted within days, while the companies could become unable to pay suppliers, rent and wages, or meet their ongoing tax and social security obligations.

Management notes that, according to September figures, monthly payments to the state and social security bodies exceed €200,000.

The request to unfreeze the accounts is accompanied by corporate documents, shareholding information, the trademark transfer agreement, tax returns, payroll records and evidence of bank payments.