Economy · Full coverage
Veteran Israeli Construction Firm M.G.A.D Files for Bankruptcy Amid 107 Million Shekel Debt
How 2 Israeli newsrooms covered this story — translated into English and compared side by side.
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First reported by Calcalist · Jul 1, 2026
What happened
M.G.A.D Building and Investments, a veteran Israeli construction company, filed for liquidation due to a 107 million shekel debt. The company cited the recent war, labor shortages, rising costs, and financing burdens as causes. It employs 52 workers and operates 12 projects in central Israel.
- 01M.G.A.D filed for liquidation with 107 million shekels in debts.
- 02Company cites war impact, labor shortages, and cost hikes as causes.
- 03Debts include 34.7 million to banks, 7.2 million to employees and tax, 65.5 million to suppliers.
- 04Employs 52 workers and runs 12 active projects in Tel Aviv and nearby cities.
- 05Requests temporary trustee to protect assets and maximize creditor returns.
- 06Company owned by Reshmad Initiation and Holdings, controlled by Assi Morad and Assi Rashad.
Summary translated & synthesized from the sources below by baba. Read each original for the full report.
Full coverage · 2 outlets
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