Wal-Mart Owes Chinese Supplier USD23 Million, Is Accused of Dictating Sales Figures
Yicai Global
/SOURCE : Yicai
Wal-Mart Owes Chinese Supplier USD23 Million, Is Accused of Dictating Sales Figures

(CBN - Global) April 18 -- Wal-Mart Stores Inc., the world's second-largest retailer, is about CNY150 million (USD23.15 million) in arrears to Qianqiansheng Trade Co., a wheat products supplier, dating back to July 2012.

A company manager said receipts issued by Wal-Mart [NYSE:WMT] were less than actual sales volume and that the supermarket dictated sales figures without referring to suppliers.

The dispute between Qianqiansheng and Wal-Mart started over one year ago, according to Mr. Yao Wenhua, president of Beijing Supermarket Supply Enterprises Association. When Wal-Mart removed Qianqiansheng products from its shelves, the company's employees blocked the entrance of a Wal-Mart store in Beijing asking for payment. This was not an isolated incident.

In another dispute, Wal-Mart is accused of owing Beijing Shijia Weiye Co. CNY3 million in overdue payments that have been accruing since 2006, said Mr. Wang Fuqi, a manager at the company. The disagreement also concerns payment withholding by Wal-Mart and discrepancies in sales data.

Wal-Mart's PR manager told the reporter that the issue was limited to only one supplier, and other vendors were not affected. Wal-Mart entered China in 1996, and currently has 433 stores in the country.

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