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Benzinga
Benzinga
World
The Bamboo Works

Former Retail Star Gome Hobbled by Declining Revenue, Heavy Debt

e-commerce Wang Wei Alibaba China JDcom

Key Takeaways:

  • Gome’s revenues are falling sharply despite gains for its online business, as tumbling sales at its brick-and-mortar stores lead to layoffs and closures
  • The company is staring at a potential debt crisis as it owes 22.9 billion yuan in bank loans despite having only 2.41 billion yuan in its coffers
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