Raydan shuts down branch in Jeddah

11/10/2020 Argaam

Raydan Food Co. shut down its branch in Al Waziriyah District in Jeddah, the company said in a bourse filing.

 

This is in-line with the decision of King Abdulaziz Endowment for Al-Ain Al-Azizia with regards to shutting down shops and vacating the area.

 

Al Waziriyah branch accounted for 4.97% of the company’s gross sales, the statement added.

 

Raydan said it will take measures to eliminate the relevant financial impact appearing on financial statements for the fiscal year 2020.

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