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Unconfirmed information about bankruptcy made a fuss in Greece this week. This was a publication of the Greek edition Vima that the luxury clothing trading company Tsandilis died financially. The company's history began in 1929 and despite the expansion of the name, the company is still family owned. Tsandilis stores offer expensive clothing and accessories and over the years has built a reputation of a major company that sells high quality goods. The edition refers to the Executive Director of the corporate group Alexander Tsandilis, who said that 2009 ended with a loss of € 1.5 million and losses are also expected in 2010. The newspaper notes that two of the oldest shops of Tsandilis – the one on the corner of Panepistimiu Blvd and Vukureshtiu street and the one of the most famous shopping street Ermu - no longer work. The published insinuations for the financial collapse angered so much the company management that the PR office of Tsandilis made the same day an open release to media that it will sue the Vima newspaper for the lies it published. Whatever the truth about the financial situation of the Tsandilis chain stores, the economic crisis is a reality and all businesses in Greece feel its influence more or less. High taxes and low consumption are felt in all spheres of economy and they inevitably have affected the demand of luxury goods and services as very expensive hotels, clothing or celebrations.