Major retail operator closes as suppliers say they are owed ‘millions’

Major retail operator closes as suppliers say they are owed ‘millions’

A major retail holding group with stores in many of the UAE's biggest malls has abruptly closed leaving suppliers claiming they are owed millions of dirhams in what has been described as “an unmitigated disaster” by those left out of pocket.

Gulf Greetings General Trading LLC cited itself as the exclusive representative of Hallmark Cards for the GCC region and is the owner of The Toy Store, which has major units within sites such as Mall of the Emirates and Dubai Mall.

Its company profile on LinkedIn said it operated across a total retail space of 125,000 sq. ft across the Middle East, with distribution centres in every GCC country and almost 400 employees in the GCC region. It listed 35 Hallmark stores and eight The Toy Store branches spanning across the entire UAE.

But on Friday its ‘30 year history' came to a sudden end when suppliers received an email from ‘Gulf Greetings Management' stating: “It is with great regret that due to unavoidable and unprecedented circumstances have forced Gulf Greetings General Trading LLC to close down operations with immediate effect.

“We would ask that you treat this situation with humility and respect for the long-standing relationship between our businesses. While certain members