Jarir Marketing Company announces the closure of its showroom in Showroom on Corniche Road, Nation Galleria Complex in Abu Dhabi
| ELEMENT LIST | EXPLANATION |
| Announcement Detail | Jarir Marketing Company announces the closure of its showroom located in in the Nation Galleria complex in the Emirate of Abu Dhabi in the United Arab Emirates, as of 31/12/2021. The reason for the closure is that the showroom performance continued below expectations and that it is unlikely that the performance will improve in the near future. Note that the financial impact resulting from the closure is immaterial. The direct closure loss is estimated at Saudi Riyals 1.7 million, mainly comprising losses on termination of the lease contract and loss of the book value of some assets. Such losses were recorded in the fourth quarter of 2021. |