December 11, 2012

JERUSALEM (JTA) — The Office Depot chain in Israel will close on Saturdays after being purchased by haredi Orthodox Jews from New York.

Israel’s Hamashbir 365 Holdings sold the chain last week to the haredi group of investors as part of a restructuring plan, according to the Haaretz business daily The Marker, which did not name the new owners.

The new owners agreed to invest nearly $8 million immediately in the franchise.

The deal was approved by the Office Depot parent company in the United States.
 

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