Qoo10 is making arrangements to transfer an amount owed, say affected merchants

Merchants waiting for payment

Traders said Qoo10 appears to be releasing payments for smaller amounts, according to group chat messages seen by CNA.

But for those who deserve more, there is little news from the struggling online marketplace.

This includes business owner Dave KA, who said his business still owes S$98,000.

He filed a police report last Thursday after sending a warning letter to Qoo10 at the end of August. For now, he is waiting.

“There is no comment. There is nothing at all from Qoo10 or anyone else. Will they pay? Will they file for bankruptcy? Will they become liquid? Nobody knows anything,” said the owner of Spys Trading & Consultation.

“Whenever we ask for payment, (Qoo10) says: ‘We have problems, technical problems, give us a moment, we will get back to you.'”

He has been on the e-commerce platform for more than five years. He said the payment delays started last year when the platform extended its withdrawal period from seven to 30 days.

The period subsequently became longer and longer and the last payment he received around June this year took more than two months to be credited to his bank account. He has not received any further payments since then.

Lawyer Ang Ann Liang, who is advising some of the affected traders, said that in the worst case scenario, legal proceedings would have to be initiated.

However, if the claims are small, the legal costs may not be worth it, he added.

“These traders may want to consider joining forces with other traders with similar claims. Joining forces and sharing information and resources can reduce legal costs,” said deputy director of law firm Wong Tan & Molly Lim.