CAIRO, Sept. 8 (Aswat Masriya) - The Orient International Trading Company Ltd. will close three of its outlets in Alexandria by next January due to Egypt's "complex business climate," it said in a statement.  

The outlets include Centre Point, Home Centre, and Max.

The company's territory head, Peter Morland, said in an statement on Thursday that the employees affected by the closure have a chance to relocate to another branch in Cairo, or within the Middle East.

"Those employees who do not wish to relocate will receive full end-of-service benefits, as per the Egyptian labour laws," the statement read.

Photos of disgruntled workers, who were surprised with the company's decision, circulated on social media on Wednesday as they crowded in front of closed Centre Point and Max stores.

The official Facebook page for Home Centre informed customers on Wednesday that the store was temporarily closed and would open again on Thursday.

The Purchasing Managers Index (PMI) for Emirates NBD, released last Monday, showed that private sector activity has been continuously dropping while production and employment sharply declined in August.

Egypt's economic situation has been plummeting as it faces a shortage in foreign currency, after years of political turmoil halved the country’s foreign reserves and scared away tourists and investors.