MERCHANTS AWAIT PAYMENT
Merchants said Qoo10 appears to be releasing payments for smaller amounts, according to group chat messages seen by CNA.
But for those who are owed more, there have been little updates from the beleaguered online marketplace.
This includes business owner Dave KA, who said there is an outstanding settlement of S$98,000 for his shop.
He lodged a police report last Thursday, after sending a letter of demand to Qoo10 at the end of August. For now, he is taking a wait-and-see approach.
“There is no statement. There’s nothing at all from Qoo10 or anyone else. Are they going to pay? Are they going to declare bankruptcy? Are they going to go to liquidity? No one knows anything,” said the owner of Spys Trading & Consultation.
“Whenever we ask for payment, (Qoo10 says) ‘We are having issues, technical issues, give us a while, we’ll revert back to you’.”
He has been on the e-commerce platform for more than five years. He said delays in payment started last year, when the platform extended its payout period from seven days to 30 days.
The period subsequently became increasingly longer, and the last payment he received in around June this year took more than two months to be credited into his bank account. Since then, he has not received further payment.
Lawyer Ang Ann Liang, who has been advising some of the affected merchants, said the worst-case scenario is to commence court proceedings.
However, if the claims are small amounts, they might not be worth the legal cost, he added.
“These merchants might wish to consider linking up with other merchants with similar claims. If you join forces and share information and resources, this is something that might make the legal cost less prohibitive,” said the associate director of law firm Wong Tan & Molly Lim.
