Looks like news about businesses closing or facing troubles are on the rise now. People were surprised to read about the closure of Buddha Bar in Downtown Beirut last week due to the economic and security situation in the country, and today, I just came across this article in Al-Akhbar about Khoury Home facing some difficulties even though it controls a major share of the household products market in Lebanon.
Apparently, due to the decrease in sales and increase in payable to large suppliers, the Khoury family has entered in negotiations with one of their partners to sell their share in Khoury Home. You can read more about it here.
Khoury’s problem was the acquisition of Hokeyem a deal went bad they tried to revive it with re-branding but the project was long dead now the echos are hitting the mother company.
It was one of the problem purchasing hokayem but the main problem was all the branch they opened