Israeli fashion group Honigman files for court protection from creditors

Honigman Fashion, an Israeli fashion retailer that operates three major Israeli clothing chains: Honigman Women, Honigman Kids and TNT, has filed for court protection from its creditors.

The move was announced Wednesday, when the retailer filed for court protection from creditors in the Nazareth District Court. The retailer is looking to continue operating in a way “that will enable the company to set out on a new path,” the Honigman group said in a statement.

The court ordered the appointment of an accountant, Boaz Gazit, and a lawyer, Keren Reichbach-Segal, as trustees during the period of the stay, which at this point was ordered for 60 days. The trustees were given authority to run the company, seize assets, promote various business interests and run the retailer during the period of their appointment.

The Honigman group runs 150 stores in Israel for its younger consumer brands, Honigman Women, Honigman Kids and TNT.

Owned by Yaakov and Micha Honigman, the group launched as a single children’s clothing store in Tel Aviv in 1947. It incorporated as Honigman and Sons over 30 years ago and changed its management earlier this year, with the departure of CEO Kobi Moiseh. The company’s former CEO, Micha Ronen, took the reins back.