Consumer China

Gome falling from its pedestal

  • Published 14 May 2009

China's once leading electrical appliance retailer has been under pressure ever since the arrest of its chairman in November last year.

Crisis-plagued Gome Electrical Appliances Holding (493:HKG), once China's leading appliance retailer, is sliding off its top spot. Since the arrest of its former chairman Huang Guangyu in November 2008 on alleged irregular stock trades (which resulted in a suspension of the company's shares), sales slumped 21.9% in Q4 2008 from a year earlier.

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