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

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.