Jerusalem – With the sale of Israel’s Office Depot stores last week to a group of chareidi investors from New York comes word that the office supply superstore will no longer be open for business on Shabbos.
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According to reports in Israeli news source TheMarker.com, the group of buyers has agreed to invest 30 million shekel into the floundering chain of stores immediately, in a deal that was approved both by Office Depot in the United States, the parent company of the Israeli stores, as well as Bank Mizrachi Tefachot, which holds a lien in the same amount against the stores.
Negotiations for the sale of Israel’s Office Depot have been taking place for weeks, with Rami Shavit, owner of Hamashbir 365 Holdings finally agreeing to the sale of Office Depot when the New York investors agreed to pay cash up front for the stores. The new owners may also be required to put in an addition 10 million shekel, if needed.
As part of the deal that was signed on Thursday, Office Depot suppliers will be paid back just sixty percent of the amount they are owed, with that payment to take place over a five year period.
Some of us might not realize the Mesuras Nefesh that’s behind such a decision. The investors should be applauded for there bravery.
I’d love to know there names so that I’ll be able to thank them publicly and have them as a role model for others.
Watch their profits soar!
it is their store they can close it. To bad many do not feel the same way if a secular wants to keep it open
Baruch Hashem! I always shopped there with a heavy heart.
once they become shomer shabbat they will profit greatly and the charedi-daati world should go all out to patronize them.when el-al became shomer shabbat they profited greatly at a time airlines went bankrupt.
Kol hukovad! But I also say u have no choice if you want be matzliach!!!