Founder of debt-laden Chinese retailer Suning eyes stock sale

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20210623N Suning

An employee of Suning piles up reusable boxes to be delivered at a logistics center. © Reuters

NAOKI MATSUDA, Nikkei staff writer

SHANGHAI -- The owners of Suning.com plan to sell more shares held in the debt-ridden Chinese retail group, it was announced Wednesday, a sale that puts founder and Chairman Zhang Jindong's control over the company into question.

Zhang and entities under his control will sell a portion of their shares in Suning. The buyers and the percentage stake involved have not been disclosed.

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