Event Brief
Jul 6, 2026 at 8:08 AM ET
Simad Holdings collapses after bond sale, leaving investors burned
By The BriefBrief
Simad Holdings, a New York-based summer camp company, collapsed after a bond offering, triggering a rapid debt crisis for Tel Aviv investors.
WHO: Simad Holdings; Michael and David Shabsels
WHAT: Simad Holdings collapsed after its owners emptied the company of cash, leading to a debt crisis and losses for Tel Aviv investors.
WHEN: Jul 6, 2026 at 9:25 AM ET
WHERE: Israel
WHY: The company’s owners emptied it of its cash, contributing to liabilities and a rapid debt crisis.
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