Israeli supermarket chain Super-Sol is reported to be planning the closure of 20 stores in the next three months.

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The chain, which currently operates 170 stores, is also expected to close between 40 and 50 unprofitable stores in the longer term, Dow Jones News reported, citing a report in Maariv.

Super-Sol posted a net loss of NIS19m (US$4.3m) for the second quarter, compared to a year-earlier profit of NIS28m. The company attributed the poor performance to increased competition and the recession.

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