Appliance marketplace Allets shutters as Qoo10 dominoes continue to fall

Allets, an online home appliance and furniture marketplace, announced that it will close operations by the end of August as the Qoo10 cash crisis persists.

A person affected by the sudden shutdown of Allets, an online home appliance and furniture marketplace, takes a photo of the company's office in Seongdong District, eastern Seoul, on Monday. [YONHAP]

A person affected by the sudden shutdown of Allets, an online home appliance and furniture marketplace, takes a photo of the company's office in Seongdong District, eastern Seoul, on Monday.

Allets posted a notification on its website on Friday that it would halt operations by the end of August due to "unavoidable operational issues," while most sellers on Allets were awaiting settlements for July. The incident, which followed the ongoing liquidity crisis at TMON and WeMakePrice, has further fueled concerns over the cash crunch at the Qoo10-owned marketplaces affecting smaller players.