Israeli Court Grants Sushi Chain Temporary Stay of Proceedings Amid Debt Crisis
Translated & summarized from Calcalist by baba
A Tel Aviv court granted a temporary stay of proceedings to the "ZE SUSHI" restaurant group, which owes NIS 19 million. The order provides the group and its owners, Eve Gabriel and Inbar Zaruk, time to arrange a debt settlement and work on recovery. The stay is in effect until an October 20 hearing. The group claims it is not in business collapse but facing cash flow and debt structure issues.
The story in 5 lines · by baba
- Tel Aviv court granted "ZE SUSHI" a temporary stay of proceedings due to NIS 19 million in debt.
- The order provides owners Eve Gabriel and Inbar Zaruk time to arrange a debt settlement.
- The stay is effective until a court hearing scheduled for October 20.
- The "ZE SUSHI" group operates two restaurants and four virtual brands in Tel Aviv.
- The company claims it is facing cash flow issues, not a business collapse.
The Tel Aviv District Court has granted a temporary stay of proceedings to the "ZE SUSHI" (זה סושי) restaurant group, which owes approximately NIS 19 million. The order, issued on Tuesday, provides a three-company group and its controlling owners, Eve Gabriel and Inbar Zaruk, with a period of "industrial quiet" to formulate a debt arrangement and work towards the chain's recovery. The interim order is effective until October 20, when Judge Noa Grossman has scheduled a court hearing. The stay applies to three entities: "ZE SUSHI," "Europe Terminal," and "ZE SUSHI Tel Aviv Group," as well as the owners. The group had filed an urgent request for the temporary order to facilitate a debt settlement. Both of the group's Tel Aviv restaurants remain open and operational. According to the group's legal representatives, the companies are not facing business collapse. Their operations continue normally, the brand is strong, and revenues are consistent. The challenge is described as a cash flow issue and a flawed debt structure, preventing them from meeting current obligations while funding ongoing operations. The applicants believe there is a real chance to rehabilitate the companies and repay a significant portion of their debts through a supervised debt arrangement. "ZE SUSHI" operates a flagship restaurant in the Bazel complex on Eshtori Ha'פרחי Street, while "Europe Terminal" runs another restaurant in the WE building on Menachem Begin Road. In addition to the restaurant, "Europe Terminal" manages four virtual brands, Food Terminal, Vong, Ze Sushi, and Pick a Poke, marketed via the Wolt platform.
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