Hyperpanda is set to close its only outlet in UAE, which first opened in Dubai Festival City in 2006. The closure of the 175,000 square feet store is due to the rapid deceleration in grocery retailers' growth as a result of slowing conditions. According to a customer service representative, a clearance sale is expected to start at the store this week. Savola [2050.SE], the parent company of Hyperpanda, has closed 102 smaller Pandati stores in KSA last year as the country’s economic slowdown hit consumer demand. 

Savola: SAR40.15 as of 27 Mar. 2017, Rating: Neutral, TP: SAR38.00/share, MCap: USD5,717mn, SAVOLA AB/2050.SE