News

Seoudi and Zad supermarkets seized by Egyptian government

Seoudi and Zad supermarkets seized by Egyptian government
Khairat El-Shater, the Muslim Brotherhood’s Vice Supreme Guide, at the opening of Zad supermarkets.
Khairat El-Shater, the Muslim Brotherhood’s Vice Supreme Guide, at the opening of Zad supermarkets.

Seoudi and Zad supermarket chains were seized by the government on Sunday on allegations that they are owned by Muslim Brotherhood members.

The Seoudi chains are owned by Abdel El-Rahman Seoudi, a business man who was arrested in 2007 due to charges related to the Brotherhood, while the Zad chains are owned by Khairat El-Shater, the Muslim Brotherhood’s Vice Supreme Guide.

The decision to shut down the supermarket chains refers back to the North Cairo Criminal Court’s decision to freeze all assets of prominent Muslim Brotherhood leaders and numerous Islamist politicians in September of last year. The Muslim Brotherhood are recognized as a terrorist organization by the Egyptian government.

In May, state-owned media reported that the assets of 30 Muslim Brotherhood leaders and 12 associations run by the Brotherhood, along with several companies they owned have been frozen.

Despite reports that this move will leave thousands unemployed, no employees will lose their jobs. The chains will be re-run under a temporary administration assigned by the government until another solution is found. It is not yet clear whether the government intends to hold a tender for the sale of the supermarkets or whether there are other plans.

Egyptians call for the end of 'sexual terrorism'
Magdi Yacoub becomes the first Egyptian to receive the Order of Merit

Subscribe to our newsletter


News

More in News

Egypt’s New Capital to Be First ‘Cashless’ City in the Country

Egyptian StreetsFebruary 17, 2019

Egypt’s Ministry of Health and Education Launch a Campaign For Anemia, Dwarfism and Obesity

Egyptian StreetsFebruary 17, 2019

Egyptian Parliament Approves Constitutional Amendments to Extend Presidential Term Limits

Egyptian StreetsFebruary 14, 2019

Egypt Plans to Create a Railway System Connecting Ain El Sokhna with New Alamein City

Nour EltiganiFebruary 14, 2019

Stolen Ancient Egyptian Artifact Retrieved at Amsterdam

Egyptian StreetsFebruary 13, 2019

Egyptian Vlogger Shady Abu Zeid Will Remain in Jail After Granted a Release

Egyptian StreetsFebruary 12, 2019

Egypt Launches ‘Egypt and Africa’ Website to Communicate with African Countries

Mirna AbdulaalFebruary 11, 2019

Egypt Chairs African Union, First in 17 Years

Egyptian StreetsFebruary 11, 2019
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 Egyptian Streets. All Rights Reserved.