Snapdeal gave an official statement on the reports that the company is about to become bankrupt, they refused to agree with the report and has claimed that company is not returning its stocks. The Snapdeal spokesperson said it’s a ‘regular practice’ which helps the seller to know the market conditions better and perform accordingly. Media stated that Snapdeal has returned around 60%-70% of the goods for bad service and delivering wrong items at the wrong address, this process is to defame Snapdeal.
In a report, Inc42 stated that a Snapdeal spokesperson has commented that “We are not returning anything, as the stocks are owned by sellers only and they are free to move them as required. This is almost a weekly activity to replace the less-selling or out of season goods with more selling goods, depending upon the demand and as per the ongoing online sales in different categories, we have no dues on us with regard to employees both ex and present or the sellers. Bankruptcy is a term used when you are unable to pay the dues. So, how we can be bankrupt?”
Previously, there was a time when Snapdeal was valued at ₹41K Crore ($6.5 Billion) has been on the slope which may affect the reputation of the company by highlighting scandals, ever since news of the merger made headlines.