Cofix closed about two-thirds of its subsidiaries and left open 35 branches

Strengthening the Ministry of Health's directives, which require the closure of recreational culture, shopping malls, bars and restaurants and banning crowds, is detrimental to Copics. The company closed about two-thirds (70) of its subsidiaries at Urban Coffix, with about 35 active branches. On the other hand, the company enjoys growth in Supermarket Supermarket arm, following the supply of food to consumers. Cofix estimates that in light of the increase in supermarket sales, the company's operating profitability will not be materially affected, even in light of the decrease in cafe operations.
The Corona virus has had a positive impact on the Copics supermarkets and hit the cafes. In the first week of March, revenue at the chain's supermarkets increased by 8.2% compared to the same period in February this year, and the financial increase in revenue between the periods amounted to NIS 350,000. In the area of ​​cafes in 11 self-service branches, the revenue fell by about 7% during the same period compared to the same period in February this year, and the financial decrease in the revenue between the periods amounted to about NIS 15,000.
Cofix, controlled by Rami Levy, concluded 2019 with a decrease in sales and deepened the net loss to NIS 11.33 million.