Connect with us

Hi, what are you looking for?

Jewish Business News


GAP closing down in Israel

Beset by chronic financial misfortune, the fashion retail chain’s franchisee announces that all 7 stores will be shut down by 2017; company has registered drop in sales in a number of countries.

A shopper walks down Fifth Avenue carrying a Gap shopping bag in New York


Israeli largest retail franchise group Trimera Brands has announced that it plans to close down the GAP retail chain in Israel during 2017.

The group owned by Joey Schwebel (about 50%) with retail operations in Hungary and Czech Republic, is managing popular brands including Gottex swimwear, Zara, Pull&Bear, Bershka, Massimo Dutti and Nike.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The group has promised it will “make efforts to hire workers from its stores in Israel and to integrate them into alternative corporations in other brands.”

Founded by Donald and Doris Fisher, GAP Inc. is the largest fashion retailer in the United States, and was 3rd in total international locations.

The company and its subsidiaries Banana Republic and Old Navy, are all have registered plummeting sales. Banana Republic announced the closure of it branches in Britain and Old Navy in Japan. GAP in the US has seen fall in profit margins and announced that it would close down 65 stores.

Joey Schwebel purchased the right to GAP activities in January 2012 for NIS 40 million ($10 million). GAP has 7 stores in Israel.





You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.