As reported by the AFR, Chinese ecommerce platform, JD.com, has closed its Australian office amid widening losses.
The office opened in February 2018 and had intentions for expansion, however in a slowing ecommerce market, the business has pulled the plug on its Australian arm.
A spokesperson for JD.com said that the Australian operations will instead be run out of the China office.
"We are integrating the Australia office into the business in China. Australia’s importance doesn’t change, and the business is going well."
The business said there won't be any changes to its service in Australia and New Zealand and its partnerships with Australian and New Zealand exporters will continue, but will be run by staff in China. The head of Australian operations of JD.com, Patrick Nestrel, has exited the business.
JD.com confirmed the closure on May 8.