The Lod District Court has consented to the Mega supermarket chain convening a creditors meeting on July 12, with the results of the meeting to be discussed by the court two days later. Mega employees demonstrated outside the court during the hearing. Over the next two weeks, Mega will pay in cash for goods supplied to it. Alon Group CEU and Mega chairman Avigdor Kaplan will be responsible for seeing to it that the chain does not buy merchandise for which payment is not assured. RELATED ARTICLES Alon Blue Square's billion-shekel gap Alon group set to leave "Israel Post" partnership Manufacturers Association demanding trustee for Mega Mega suppliers restrict deliveries Mega owes NIS 1.3b Mega will pay its landlords rent every two weeks. Kaplan said that Mega's parent company Alon Blue Square had decided to increase its exposure to the chain. Mega said in response to the court decisions, "Within two weeks we will hold a meeting with all the relevant parties to discuss and complete the recovery plan quickly, to the satisfaction of all concerned. The controlling shareholder is supporting Mega and its suppliers in the interim, and will guarantee the purchases made during this period." Published by Globes [online], Israel business news - www.globes-online.com - on July 1, 2015 © Copyright of Globes Publisher Itonut (1983) Ltd. 2015
