The Israeli branch of Office Depot has run out of bankruptcy-saving proposals, and a court on Monday authorized liquidators to lay off all 780 employees and close the stores.
“After a lengthy hearing and with all due regret, it seems that the company has reached the end of the road, and nobody can disagree,” said Central District Court Judge Irit Weinberg-Nutovitz, who ordered the company to submit a liquidation plan on Wednesday.
She added, “I am instructing the temporary liquidators to close the stores which have been operating in an orderly manner and to place guards until decided otherwise. I am instructing the temporary liquidators to seek the assistance of the police if necessary.”Jewish Press News Briefs
About the Author: JewishPress.com brings you the latest in Jewish news from around the world. Stay up to date by following up on Facebook and Twitter. Do you have something noteworthy to report? Submit your news story to us here.
If you don't see your comment after publishing it, refresh the page.
Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.
If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.