Popular fast-food chain in Israel put up for sale: court allows seeking a buyer

A court has allowed the KFC franchise in Israel to be put up for sale. The chain has 12 branches, 120 employees, and debts of 50 million shekels. Temporary managers filed a motion to publish an invitation for bids to acquire the company. Several potential buyers have already come forward.

A court has allowed the KFC franchise in Israel to be put up for sale. This was reported by the economic publication Calcalist on Monday, November 9. Temporary managers — attorney Amit Laderman and accountant Aliza Sharon — filed an urgent motion with the district court in Be'er Sheva requesting permission to publish an invitation for bids to acquire the company. The deadline for submitting bids is 21 days from the date of publication. The chain is operated by Smart Service, whose debts amount to about 50 million shekels. On October 29, the owners applied to the court for protection from creditors. The chain has 12 branches and about 120 employees. The company owes 1.9 million shekels to employees and about 1.2 million to government agencies. The managers reported that already at the initial stage, several interested parties have approached them to buy the chain. In parallel, they are stabilizing operations, retaining staff, and maintaining contact with suppliers. The chain is represented by attorney Evyatar Kramer, who stated that the difficult situation was caused by the events of October 7 and the escalation in the security sphere.