The firms seek permission to run their 33 remaining outlets for 60 days while hunting for a buyer to preserve roughly 100 jobs.

By URI SELA, LIAT RON

JULY 12, 2026 15:50

The established women's fashion retailers Onot and Jump submitted an urgent petition last week to the Tel Aviv-Jaffa District Court seeking an insolvency order under a rehabilitation framework together with a stay of proceedings. Filed by attorneys Amit Lederman, Dorit Karni and Wasim Sibat, the filing discloses that the businesses have reached acute insolvency, carrying total liabilities of roughly NIS 38.2 million against assets valued at about NIS 32.5 million.

The court approach follows only months after the February 16, 2026 tragedy that struck the family and the domestic fashion sector when group founder and guiding force Yoav Shema took his own life amid mounting financial strain and the worsening crisis at the chain.

Cash-flow domino effect

In the petition the companies (Onot Model Ltd. and New Jumpno Retail Ltd.) outline a harsh mix of internal and external pressures that triggered the collapse. These include the impact of the Swords of Iron war, the Twelve-Day War and Operation Lion's Roar, all of which sharply cut mall footfall and sales. Added pressures came from higher interest rates, the growth of e-commerce and rivalry from overseas brands.

Because of the strain the chains had to sell prior-season stock at thin margins, lacking funds to clear fresh collections from customs. The crisis prompted the dismissal of 60 staff in recent months; about 100 workers remain. Store numbers, once above 100 and down to 63 last year, fell to 44 before the filing and are slated to shrink to 33 under the interim plan.

Debt details show roughly NIS 16.2 million owed to secured lenders Bank Leumi and Bank Hapoalim. Additional sums include about NIS 1.03 million to tax and National Insurance authorities, NIS 5.6 million to employees (largely covered by the National Insurance Institute) and approximately NIS 15.3 million to unsecured creditors such as local and foreign suppliers.

Unsuccessful talks with Golf

As part of the urgent filing, and to avoid leaving staff unpaid, Bank Hapoalim and Bank Leumi agreed to supply immediate interim funding of NIS 650,000 to cover June 2026 salary advances, classified as procedure costs with priority repayment.

The companies now ask the court to approve temporary operations for 60 days so an appointed trustee can seek an investor or purchaser to keep the business running. The submitted plan projects balanced short-term activity that should generate receipts of about NIS 5.26 million and a cash surplus near NIS 500,000.

The group's financial woes had persisted for years. During 2025 late founder Yoav Shema sought a comprehensive restructuring. In November 2025 a non-binding memorandum was signed with the listed Golf Group, which offered roughly NIS 30 million for the full share capital of Onot and Jump and launched due diligence, yet the discussions never produced a binding agreement and left the chains without fresh capital.