- Bankruptcy trustee Majed bin Munir Al-Nimr has announced the opening of financial reorganization proceedings for the grocery delivery app Nana before the Commercial Court in Riyadh.
- The Riyadh Commercial Court has invited creditors to submit their claims within 90 days.
- The financial reorganization process provides an opportunity for restructuring and continuity for the Nana platform.
Bankruptcy trustee Majid bin Munir Al-Namir has announced the opening of financial reorganization proceedings for Central Markets Company , the company behind the “Nana” grocery delivery app — before the Commercial Court in Riyadh. All creditors have been called to submit their claims within 90 days.
Founded in 2016, Nana raised over $200 million across five funding rounds.
The most notable was a $133 million Series C led by Kingdom Holding — the investment arm of Prince Alwaleed Bin Talal— and Uni-Ventures, making it one of the largest rounds ever raised by a Saudi startup.
But the capital wasn’t enough to shield the company from rising operational costs and a brutal price war.
Crucially, financial reorganization is not liquidation — it’s an opportunity to restructure debt and continue operating.
That’s what sets Nana apart from Shgardi, which shut down completely after completing 7 million orders and serving 3 million customers across 35 cities, citing fierce competition and predatory pricing.
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