By COLlive reporter
Crown Heights grocery entrepreneur Itzik Benabou has sealed the deal Tuesday to buy his debt-strapped competitor The Shuk.
As COLlive exclusively reported, the contract between Benabou and Shloime Ifergan was signed last week for a bit less than a million dollars.
The Shuk, a discount grocery warehouse on 589 E New York Avenue, is the latest addition to Benabou’s growing empire which includes Kol Tuv and Empire Kosher.
In a conversation with COLlive, Benabou confirmed the details. “We are happy about the sale and will keep serving the Crown Heights community,” he said.
Ifergan will keep running the store until the end of the week, when Benabou will come in to evaluate the goods and only after that re-open.
Benabou said it was premature to discuss the plans he had for The Shuk. (Disclosure: Empire Kosher is a regular advertiser on COLlive).
COLlive’s initial report sparked a heated discussion (with close to 150 comments). Some claimed residents took advantage of Ifergan’s credit option that made his debt grow to a few hundred thousand dollars.