Kika defers liquidation sale in effort to sell off stock of merchandise to rival retailer Betili

28.05.2012                      07.Siwan. 5772                    Schawuoth 2

Wirtschaft:

Kika defers liquidation sale in effort to sell off stock of merchandise to rival retailer Betili

Yoram Anavi of the financially-troubled 5 Nagarim chain, which closed seven branches about two weeks ago, says chances are high that he has a buyer for the retailer.

The cash-strapped and shuttered Kika furniture store in Netanya will not hold a liquidation sale on Monday as expected, giving the company one last strike a deal to sell its inventory to another retailer.
Court-appointed liquidator Ron Bar-Nir said the company was being given a chance to pursue contacts with Betili – a rival furniture and housewares chain. If a deal isn't clinched with Betili by Monday, Kika will hold a liquidation sale on Tuesday or Wednesday, Bar-Nir said….