Michal Nagarin's fashion network is closing it's business

Posted on Sep 24, 2019 by Ifi Reporter

Michal Nagarin's network is closing - the company announced on Tuesday its 120 employees, who were given a layoff notice this morning. The company's factory in Bat Yam also closed. At this point the stores are still in stock and will continue to operate until they are sold.
In total, the company operates 22 stores abroad, in countries such as Russia, Croatia, Romania, the Netherlands, Hungary, France, Japan, Mexico, USA, Australia and China. There are currently 13 Michal Negrin stores in Israel, including 6 owned and 7 franchised stores.
In a statement to its employees, Michal Negrin, the designer and entrepreneur of the chain, said: "With great sorrow and great pain, we are forced to tell you that our path is over, and we are forced to close our life's work that we have invested our heart, soul and all our money into.
"I suppose you realized something was happening. We had to narrow down to one building, fired employees, thought we could make changes to the business and lead it to a better place, we took outside consultants that went into the depth of the beam, started a process that looked promising and correct - but unfortunately last week we realized the financial pit was much deeper than what That we thought, and we don't have the money and ability to continue to operate this whole array. "
Negrin also wrote that "all the private money we have accumulated over the years, tens of millions of shekels, has been invested in our business to continue to roll it out, with faith and hope in our life enterprise and our continued work here in the country, and serve as a source of livelihood for all of us. A choice, and there is no way out at the end of the company's path.
"It's a sad and awful day for us. Just as I'm sorry for myself, I'm sorry for you for losing your job. I apologize to all of you who tried to go with my dream and failed. I am sorry that this is how we get the start of the new year. My heart is crying, and the soul is not Finding a rest. "


Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum


Elbit won a huge contract from the Australian Army in the amount of about 600 million dollars

Feb 26, 2024 by Ifi Reporter

Elbit won a huge contract from the Australian Army in the amount of about 600 million dollars, to supply systems to the Hanwha Defense Australia company for the Land 400 Phase 3 project. The project is designed to provide the Australian Army with about 450 new-generation tracked APCs, which... Continue reading →

Government Salary Gender Gap Narrows Slightly in 2022 New Agreement Aims for Further Improvement

Feb 26, 2024 by Ifi Reporter

  According to the latest reports from the Ministry of Finance's Salary Commissioner, the average gross salary in government offices for 2022 stood at NIS 18,029 per month. However, a notable gender disparity persists, with women earning approximately 17% less than men on average,... Continue reading →

Finance Committee of the Knesset has approved an increase in Israel's Value Added Tax

Feb 22, 2024 by Ifi Reporter

In a move to address the significant deficit in the state budget, the Finance Committee of the Knesset has approved an increase in Israel's Value Added Tax (VAT) rate from 17% to 18%, effective January 1, 2025. This decision marks the first adjustment to the VAT rate since 2015 when it was... Continue reading →


No testimonials. Click here to add your testimonials.