Economy
Ynet: 7/11 fails to break into Israeli local market, calls it quits
The American convenience store giant operated in Israel for a year and a half via a franchisee, Electra, but has now decided to close up shop.
One and a half years ago, 7 Eleven opened 7 stores in Israel to some fanfare, including the Jerusalem Post, which proclaimed "Thank Goodness!" Now, according to a report by Ynet, it is closing its doors, having failed to penetrate a convenience store market saturated with choices.
According to Ynet, 7 Eleven cost Electra 68 million NIS in losses and apparently showed no real signs of a turnaround in 2024. Its assets will now be sold for 3.3 million NIS to 7 Express, a local convenience store operator.