DOURROS disposes of Patras factory to strengthen financial position

Specifically, as announced by the company on 20 June 2026, the sale of the former factory property at 80 Maragkopoulou Street in Patras was agreed. These facilities have been non-operational for several years, making their disposal a strategically sound decision.

The total consideration for the transaction amounts to €2.75 million, with management deciding to allocate all proceeds toward the early repayment of existing obligations to the Greek tax authorities and social security funds. In particular, the funds will be used to settle regulated debts to the Independent Authority for Public Revenue (AADE) and the Social Security Fund (EFKA), which have been serviced in full to date.

This move is part of a more conservative yet targeted financial strategy, prioritizing the reduction of debt and overall financial leverage. At the same time, it is expected to improve key balance sheet ratios, enhancing both transparency and the company’s credit profile.

It is worth noting that the historic Patras-based industrial company successfully completed the issuance of a €2.1 million convertible bond last September.

The bond was fully subscribed by Cosmos Developments S.A., a real estate development and management company led by CEO Nikolaos D. Bakos, son of prominent entrepreneur Dimitris Bakos. Under the terms of the bond, 7,000,000 bonds with a nominal value of €0.30 each were issued, carrying the right for conversion by the bondholder into an equivalent number of voting common shares, with a corresponding increase in the company’s share capital.

The fact that the bond was subscribed by Cosmos Developments S.A. underscores that DOURROS, beyond its traditional activity in the men’s apparel sector, is now strategically planning to leverage its real estate assets. This marks a new chapter in the company’s history, as it seeks to combine its longstanding industrial and commercial operations with real estate development initiatives.