Jarir Marketing Company has announced the closure of its showroom in the Nation Galleria complex in the Emirate of Abu Dhabi, United Arab Emirates, starting from the end of December 2021.
Jarir Marketing stated in a statement on “Saudi Tadawul”, today, Monday, that the reason for the closure is the continuation of the show’s performance below expectations and that performance is unlikely to improve in the foreseeable future.
He added that the financial impact of the closure is not significant.
Jarir Marketing estimated the direct losses from the closing decision at 1.7 million riyals. Losses are represented by the termination of the lease and by losses on the book value of some assets.
The company indicated that these losses were recorded in the fourth quarter of 2021.
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