Riyadh-Mubasher: Saudi Company for Hardware (SACO) said it plans to close its store at Al Khobar, according to a bourse statement.

The closure is based on the company's plan to find an alternative location at Al Khobar, as well as the difficulties related to maintenance and renewal of the store permits.

SACO is set to sign a contract for a new alternative store at Al Khobar, the statement added.

The financial Impact of the closure will be reflected in Q2-16 financial results.

The company confirms that the closure will not affect its previously-announced expansion plans.