Ermes was fully insured

Ermes Department Stores Ltd, a member of the Shacolas Group that owned by the listed companies Cyprus Trading Corporation Public Ltd and Woolworth (Cyprus) Properties Public Ltd, announced that it had full insurance cover and thus there was no loss from last week’s robbery.

The group said that its Ermes Olympia store in Limassol which was the subject of a robbery on Sept. 2, was fully insured against theft and the loss is fully covered by the Company’s insurance cover.

Of the total CYP 33,717 that was stolen, CYP 18,000 was cash and CYP 15,717 in cheques. So far, the company has recovered cheques of the value of CYP 13,973.40, which have been cancelled.

The final loss might reach CYP 19,743.36 and is covered by the insurance. The Company is insured for an amount of up to CYP 30,000.