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Jerusalem Life

| Hamashbir closing branches, reducing sales space

Chaya V    
Wednesday, 09 January 3:15 PM

The changes in consumer retail habits as more purchases go online has hit Israel's largest department store chain Hamashbir Lazarchan Ltd., controlled by Rami Shavit.

Sources inform "Globes" that Hamashbir is closing its 1,500 square meter branch in Tel Aviv's Gan Ha'Ir, where it has been operating for the past eight years. Hamashbir is also reducing its branch in Melisron Ltd.'s (TASE: MLSR) Kiryon mall in Kiryat Bialik in Haifa Bay from 6,400 square meters to 3,000 square meters, "Globes" has learned. Hamashbir will also close its branch in the Lev Ashdod mall and open a smaller 1,800 square meter branch in Ashdod's Sea Mall.

       
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