Tesco Supermarket Evacuation Led To No Claims For Partners

As a matter of fact, Huarun is attracting investment from four Rd stores. Reporters rough statistics, there are more than 10 idle shops around, accounting for about 1/3 of the total shop.

"The rent is too expensive to afford to rent." Mr. Zhong said that his brand clothes were basically half off yuan, 1 million yuan, and 500 thousand yuan, and the gross profit was 500 thousand yuan, but the rent cost was too high. The average cost was about 7 yuan per square meter per day. As a result, the rent cost accounted for more than half of the total cost.

"Huarun Wanjia and Tesco (Tesco) have been merging and merging for over a year, and there are endless negative news. In Ji'nan, Tesco supermarket has been closed for more than six months, and the partners are still demanding. Indemnity And even at four road shops to fight a protracted war. Huarun is the legacy of history, and the two sides are deadlocked.

Mr. Chung, a partner in Tesco, has been working with Tesco since 2011. He rented a more than 80 square meter shop outside the Second Ring Road East to sell men's clothing. The rent is 250 thousand yuan a year. In early 2014, his shop was renovated and spent over 30 yuan.

"Now I think, at the beginning of last year, Tesco should have decided to withdraw." Mr. Chung said, but at that time, he did not disclose any news. He could only pay more than 30 yuan to the brand in accordance with the original plan, and ordered more than 50 yuan at the same time.

Mr. Chung thought, at the beginning of November 2014, it was the peak season for winter clothing sales. Tesco's Second Ring East Road store suddenly announced that the store was closed, and all the surrounding cooperative shops had to be withdrawn. "Caught off guard, losing nearly one million yuan." Mr. Zhong said there were twenty or thirty households like him.

Mr. Chung believes that Tesco shop should notify partners at least six months in advance. "If I had known it, I would not have reinstalled it at least, and expanded investment, but Tesco did not do so. It should make appropriate compensation for our losses."

Now, Tesco has also withdrawn from Shandong. Mr. Chung can only continue to claim compensation from the four way store, which is still in operation. His logic is: in May 2014, Tesco and Huarun 10000 set up a joint venture, both sides accounted for 20% and 80% respectively. In China's Tesco supermarket, all of them were renamed Huarun 10000, which means that Huarun Wanjia is the player who withdraws from Tesco and should be held responsible.

Reporters also noted that although the current four shop decoration style or Tesco supermarket, but the key logo has been replaced by Huarun million. "We have noticed Mr. Zhong playing a banner at the door and asking for compensation." The supermarket manager said, "but this is the historical legacy of Tesco supermarket. We are now Huarun 10000, so let him play at the gate first."

At present, Mr. Chung thinks that Huarun must bear the liability of compensation. But Huarun believes that the two sides are cooperative, and the former responsibility should be borne by Tesco. "The key now is that Tesco management has withdrawn from Ji'nan." Mr. Chung said.

　　 Tesco withdrawal It is still rare for foreign retail giants to withdraw from the history of Ji'nan without giving partners a solution to their remaining problems. Industry analysts believe that this also reflects from one side that Tesco and Huarun Wanjia cooperation is not smooth. Before the formal cooperation in May 2014, Tesco, the largest and third largest retailer in the world, suffered heavy losses and debt rating was downgraded by the rating agencies. After cooperation, Huarun Wan was seriously dragged down.

Recently, Huarun business released results report, group 2014 fiscal year Net loss It amounted to HK $161 million (about 128 million yuan), while the net profit of HK $1 billion 908 million (2013 yuan) in 2013 was negative, with a negative growth of 108%. This is the first time that Huarun venture has been making a profit loss since its backdoor listing in 1992.