Caixin
Sep 27, 2022 08:14 PM
BUSINESS

Cash-Strapped Retailer Gome Struggles to Pay Staff, Plans Debt Restructuring

December 6, 2020, a Gome store in Shanghai. Photo: VCG
December 6, 2020, a Gome store in Shanghai. Photo: VCG

Money-losing Chinese appliances retailer Gome Retail Holdings Ltd. is struggling to pay staff and is planning to restructure its debt as its short-term borrowings pile up, sources with knowledge of the issue told Caixin.

A number of Gome employees said they weren’t paid their salaries last month and that the company has delayed paying out first-half bonuses.

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