TV Host Eliraz Sade Reveals Millions Lost in Failed Agricultural Venture
TV host Eliraz Sade revealed he lost millions and sold apartments after a failed partnership in the Haklai vegetable chain, calling the ordeal a harsh business lesson.
Eliraz Sade, known to many as a host on the i24news channel, revealed in a recent interview that he lost at least one apartment, and perhaps two, following a failed business venture in the agricultural sector.
In a podcast interview with Ben Ben Baruch, Sade opened up about the severe financial blow he suffered after becoming a partner in the "Haklai" vegetable chain. He explained that he initially joined purely for promotional purposes as a percentage partner to build brand awareness. However, when the business ran into trouble, he invested heavily to protect his reputation.
The Collapse of the Agricultural Venture
Sade joined the management of the "Haklai" fruit and vegetable chain in 2016, aiming to compete with major market players by offering direct farm-to-consumer produce. Over time, his role expanded beyond public relations into active management.
As the network faced financial strains, franchisee lawsuits, and pricing complaints, branches began to shut down. In a previous interview with Avi Shushan's podcast, Sade elaborated on the scale of the disaster, noting:
I sold two apartments to finance the business just because of my name. Back then I appeared on television and I didn't want anyone to say anything bad about Eliraz Sade. In the end, it was in my possession, and I lost between 3 and 4 million shekels. It hurts, but God knows, this is my journey.
Legal Battles and Court Rulings
The business entanglements also involved legal disputes. Three franchisees left the chain to operate independently, prompting Sade's network to sue them for breach of contract, demanding roughly 150,000 shekels in compensation from each.
Conversely, the franchisees argued that the venture failed to deliver on its business promises or provide a working direct-purchase model. In 2019, the court ruled that the network failed to supply adequate operational infrastructure and support, awarding the franchisees net compensation of about 150,000 shekels after settling inventory debts. Nevertheless, the court dismissed claims that Sade had intentionally misled investors or made fraudulent representations.
