Israeli supermarket operator Super-Sol has said it expects to set aside between NIS60m and NIS70m (US$13.3m-15.5m) in its third-quarter financial report to cover 18 store closures.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The company said the provisions will cover the decrease in the company’s assets, as well as providing for 480 layoffs, reported Dow Jones International News.

The new management of Super-Sol are currently undertaking a recovery plan aimed at reversing the retailer’s recent losses.

Super-Sol posted losses in the first and second quarters of this year. Its third-quarter financial report is due to be released in early November.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now