Mouzenidis Travel: The slippery slope and adventure of the Halkidiki property auction

Her Matinas Harkoftakis

When, at the beginning of the year, the Multi-member Court of First Instance of Thessaloniki issued a decision rejecting the extension of the validity of the interim measures that had expired on December 23, Mouzenidis Travel found itself exposed to its creditors, losing its protection status and making the margins even more suffocating to reach a resolution agreement.

A few months later, the name of the company created by the late Boris Mouzenidis is also targeted by electronic auctions.

Specifically, on February 15, 2023, the hammer is set to go down – as long as there is no move to suspend the process by then – for 40% of the ownership of a property in Halkidiki for debts of Mouzenidis Travel. In fact, the auction was not accelerated by a financial institution or a loan management company – as is usual – but by the OLYMPION company.

What is the auction about?

It is a plot of land with a total surface area of ​​7,368.20 sq.m., which is located in the area of ​​Portes tou Agios Mamas, northeast of the new Moudanion Kassandra highway, in the middle of which a two-story building of 200 sq.m. has been erected. with a tiled roof, which housed the operations of the business.

In the section from the road up to about 35 meters behind the building and in an area of ​​4 acres, it has been asphalted and was used as a parking area for tourist buses and vehicles, while some car parking shelters have also been built at this point.

According to the external autopsy, which was carried out from a distance, it was found that the premises are in good condition, while there is an olive grove at the back of the plot. It should be noted that the two-story building was built with a permit issued in 1979 and came into the possession of Mouzenidis in 1991.

As pointed out in the assessment report, the area in which the property in question is located was initially mainly rural, however today it shows significant tourism development as remarkable hotel units and holiday home complexes have been rebuilt on the south-west side of the national road and up to the coast of Thermaikos. while dozens of commercial businesses operate on both sides of the road, which are mainly related to tourism and construction. It should be noted that the first offer price is set at 560,000 euros.

The slippery course of the group

From the spring of 2021, when its founder Boris Mouzenidis passed away, a slippery path began for the Mouzenidis group, culminating in the news of bankruptcy.

Showing large obligations not so much to banks and the public but mainly to suppliers, the group has indulged in a struggle to stay afloat without, however, so far any significant result.

After all, it is not an easy undertaking as it is a multi-level business organization with large exposures and many risks, which included from a tourist agency, hotel rental and management throughout Greece, children’s camps to a shopping center, a construction company and a small-sized airline , Ellinair.

Indicative of the group’s diverse activity is that in GEMI the company’s commercial brands include Mouzenidis Travel, Bomo Hotels, Bomo, Turisitki Kassandras, Grekomed, Grekomania, Solun, Active Mice, Elion Club, Enigma Mall, Enigma Shopping Center, Greek Rent, Greekoleto, Igen, Ellin Camp and Big Fish.