Growing numbers of Chinese merchants are struggling to collect their money from daily deals websites as some of the smaller companies in the fiercely competitive sector are collapsing.
A coffee shop owner in Chengdu, who gave his surname as Zhang, said he was owed Rmb30,000 ($4,700) by Fantong, a coupon site focused on restaurant deals.
A Beijing-based merchant surnamed Li said Kutuan, another group buying site, was more than two months late paying him Rmb16,000 for clothing and cosmetics sold in coupon deals. “The agreement was that they’d pay 10 working days after the deal. Kutuan’s excuse [for the delay] is that too many buyers returned the goods so they couldn’t collect, but they haven’t returned a single piece to us,” said Mr Li.
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