SACO shuts down all stores in cities under 24h curfew

08/04/2020 Argaam

 

Saudi Company for Hardware (SACO) announced on Wednesday the closure of all stores in cities and regions specified under the 24-hours curfew directive until further notice.

 

Only 7 stores are still operating across the Kingdom, in addition to the online platform, the company said in a bourse filing on Wednesday.

 

The Saudi-based firm added it cannot determine the financial impact of the closure at present and will disclose any further developments in due course.

 

On the private sector’s support packages, SACO said it is working closely with relevant authorities to identify the support mechanism and feasibility.

 

In March, SACO temporarily closed 15 showrooms in several malls across the Kingdom until further notice, in line with the government measurements to control the spread of coronavirus.

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