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Saudi Arabia: Al-Khodari becomes latest contractor to collapse

Abdullah Abdul Mohsen Al-Khodari Sons Company has become the latest large Saudi contractor to be pushed into bankruptcy, after a ruling by the Commercial Court in Dammam. The court decision, announced by the company on 30 May in a statement to the Saudi Stock Exchange (Tadawul), followed a request for a financial reorganisation made by one of the company’s creditors. The company announced in February that its accumulated losses were twice the size of its capital.

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