Yenot Bitan agrees to sell 10 more supermarkets

Nahum Bitan

The troubled supermarket chain has already sold seven branches after struggling to swallow that Mega chain that it acquired.

Israeli supermarket chain Yenot Bitan controlling shareholder Nahum Bitan has reached an agreement with the workers committee to sell 10 more supermarkets, the Histadrut (General Federation of Labor in Israel) reports.

The talks were led by Histadrut chairman Arnon Bar-David, and in addition to selling the branches, an agreement was reached for "additional streamlining meaures in fall coordination with the workers committee and Histadrut." However, no details were hammered out about possible layoffs.

Yenot Bitan has found itself deep in financial difficulties after buying the Mega Ba'ir chain in 2016. In recent weeks, Yenot Bitan has already sold seven supermarkets to Fresh Market and Victory.

Published by Globes, Israel business news - en.globes.co.il - on November 7, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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