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Full coverage· Economy· Updated

Infrastructure Firm Y.K.R Barashi Collapses With NIS 28 Million Debt

Infrastructure company Y.K.R Barashi has filed for insolvency with debts of nearly NIS 28 million, citing the COVID-19 pandemic and the ongoing war as primary causes. The company, owned by Ahmed Matar, experienced cash flow problems exacerbated by project delays and payment issues.

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What happened

  1. 01Y.K.R Barashi filed for insolvency with debts of NIS 27.8 million.
  2. 02The company blames COVID-19 and the ongoing war for its financial collapse.
  3. 03Debts include NIS 11 million to tax authorities and NIS 11 million to a financing firm.
  4. 04Barashi employs 34 workers and lists major Israeli entities as clients.
  5. 05The company seeks court approval to enter liquidation proceedings.

Despite efforts to secure financing, Barashi could not meet its obligations to creditors, including tax authorities and a financing company. The firm is requesting court approval to enter liquidation proceedings.

Translated and summarized by baba from N12, the latest report. Read N12’s original

The coverage

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