GearBest e-commerce has been down for 10 days; suspicion is that it has gone bankrupt

The Chinese Online Sales Site GearBest, competitor of Aliexpress, is down for more than ten days without official explanations. The suspicion is that the brand has gone bankrupt, as the parent company of GearBest, the Global Top E-Commerce Co. Ltd, has been suffering financial problems for years.

When accessing the link, a generic error message is displayed, which informs “The requested URL”[no URL]”, is invalid”. The error may have been generated. unwittingly, by a failure in the server configuration, for example. However, due to the time that has elapsed, it is possible that the question was disable the site intentionally.

Error displayed when accessing GearBest website. Reproduction/Iraci Falavina

According to information on the CNX-Software website, the Global Top E-Commerce Co. Ltd filed for bankruptcy review in June of this year. This does not necessarily mean that the company will disappear, but it does indicate that structural changes will be needed to maintain itself.

In the image below, you can see the constant devaluation Global Top E-Commerce Co. Ltd at Shenzhen Stock Exchange, who has been suffering with instability at least since 2016. However, the drop gained even more notable proportions in the fourth quarter of 2020.

Graph showing the devaluation of Global Top E-Commerce. Reproduction/Xataka

Until the end of this text, there was still no official statement from Global Top E-Commerce or GearBest on the reason for the disappearance of the platform. The most recent publication in the official account of GearBest Twitter it’s from april 2020. On Instagram, the only verified account is gearbesturkiye, the store’s Turkish affiliate. In it, the most recent publication is from June 2020. On YouTube, the most recent video is from July this year.

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It’s important to reiterate that what happened to GearBest is still not really known. O Connected world awaits an announcement, will continue to monitor the situation and, as soon as possible, will report the information that is revealed.


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Source: SmartWorld, Xataka