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Network of fashionable clothes Honigman and «Jaffa tel Aviv» has begun bankruptcy procedure

Holding Honigman, which includes the eponymous chain of fashion clothing for women and children, as well as network TNT, asked the court for protection from creditors due to financial problems.

Founded in 1947 network is the oldest network of fashionable clothes in Israel and has about 150 branches across the country employing approximately 1,000 employees.

A day earlier for protection from creditors appealed the network of fashionable clothes «Jaffa-tel-Aviv», with 17 branches.

One of the main causes of the financial problems of Israeli clothing stores mass transfer of Israelis on the Internet purchases and on purchases while traveling abroad, according to The Marker.

In 2017, the Israelis have spent on buying clothes on the Internet about 3 billion shekels, and most of this amount went to foreign sites. In addition, the reduction in the cost of flights abroad has led to the fact that about 1.1 billion shekels, the Israelites spent on the purchase of clothing during trips abroad.

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Network of fashionable clothes Honigman and «Jaffa tel Aviv» has begun bankruptcy procedure 15.02.2018

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