Shares in Gome were suspended yesterday and there were concerns about the implications for the company after reports that Huang Guangyu had been detained.
Gome said yesterday that the wherabouts of Mr Huang were unclear. It could not confirm if he had been detained and had not received any formal legal notice but was “making necessary inquiries” to try to “verify the allegations”.
Mr Huang, 39, built up the company over the last two decades into one of the biggest retailers in China and was named last month as the wealthiest person in China with a net worth of $6.3bn, according to the Hurun Report which compiles lists of China's wealthy. A separate list compiled by Forbes magazine put him in second place.
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