Notos department store closes historic Athens location

The historic Notos department store at the intersection of Aiolou and Stadiou streets in Athens is closing its doors after approximately 25 years of operation. The closure follows the decision of the building's owners not to renew the lease agreement, which expired on December 31, 2024. The facility is expected to be fully vacated by early September.

The 8,000-square-meter property is owned by Piraeus Bank and is slated for a major redevelopment by Dimand. While the future use of the building—whether for retail, offices, or a hotel—has not been finalized, the planned investment for its modernization is estimated to cost between €20 million and €25 million.

The site holds significant historical value for Greek retail, having served as a commercial hub since 1913. It was originally associated with the Lambropoulou family before transitioning to the Papellinas group and eventually becoming Notos. The closure affects approximately 300 workers, including 140 direct employees, though some staff members are being transferred to other Notos locations in Piraeus, Thessaloniki, or Kalamata. The company's online store and other physical branches will continue to operate.