Representatives of Egypt's Ministry of Manpower and Emigration met on Thursday with Egyptian Trade Union Federation head Mohammed Wahbullah and Omar Effendi union committee head Mohamed al-Gibeili to discuss grievances aired by employees of the iconic department store chain, including the company's reported failure to pay employees' salaries.
According to Omar Effendi Director of Legal Affairs Ahmed Nasser, the company has so far received four different offers from investors to buy out the store chain–the largest of which was for LE320 million–all of which are currently under discussion.
Nasser went on to reveal that the largest offer had been made by an Egyptian party insisting on anonymity. He denied that the offer had been made by either Egyptian businessman Sayed al-Sewerki or Egyptian investor Saeed al-Hinish.
Al-Gibeili, for his part, said the Manpower Ministry had ensured him of the government's intention to stand by company employees.
Translated from the Arabic Edition.
