The district court has now ordered the dismantling of the fashion company in Chalk Group.
This was in response to the request of the Company’s trustees, Attorney Ilan Shavit and Michael Ronen. The company’s debts are valued at $ 5 million. It has so far employed hundreds of workers, and now only 30.
Earlier this week, the trustees stated in a preliminary opinion submitted to the court that “in the background of the Corona virus’s consequences, a bleak picture emerges regarding the company’s chances of rebuilding its business and returning to its operations. According to the Board of Trustees, the chances of the Company’s economic rehabilitation in the sense of continuing a living business, in the structure of operations, with the companies held abroad are not real and certainly in the near future. ”
The trustees asked the court for certification to act immediately by examining the possibility of selling the company’s business activity as one or a part of it, in addition to continuing to maintain a limited activity outline.
Calcalist revealed last month
Because the Be’er Sheva District Court has appointed two trustees to the fashion company Bagir Group. This was after Bagir Group requested a freeze in April and issued a temporary freeze order. In conjunction with the order, a temporary order was issued for the purpose of formulating information and providing an initial opinion as to whether there is a chance of economic rehabilitation for the company. It should be emphasized that there is no connection between Bagir Group and the Israeli Bagir brand to make suits.
Bagir Group is an Israeli company, which is traded on the London Stock Exchange. The company noted that it has 5 subsidiaries in foreign countries – Egypt, Ethiopia, USA, England and the Virgin Islands, as well as a regional office in Vietnam. However, the company’s headquarters – which includes development, procurement, finance and more – is located in Israel (in Kiryat Gat).