A court is scheduled to hold a hearing, Monday, in the matter of Office Depot, which closed the doors of its Israeli chain on Friday, following a court order to freeze proceedings. The freeze was requested by attorneys representing liquidators for the company - Bank Mizrahi and the international Office Depot - following the cancellation of a check for 1.8 million shekels for acquisition of the company.
The Globes business publication reported, Sunday, that the stay of proceedings came a day after the filing of a motion for liquidation against the backdrop of NIS 81 million in debts to banks and suppliers, including 68 million shekels by Matim Li's ML and Jump fashion chains. Owner Avi Malka said on Friday that there stand to be agreements on debt restructuring for the fashion chains. Office Depot and the fashion chains employed 1,000 people.