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JD.com is shutting shop in Indonesia and Thailand

Source: qz.com qz.com
News Snapshot:

JD.com is throwing in the towel in southeast Asia. The Chinese online retailer will stop taking orders in Thailand and in Indonesia tomorrow (Feb. 15). That’s the first step of its exit strategy, which is unfolding in stages to give customers time to use up their balance and pay off any loans. Operations in the two countries will cease by March 3 in Thailand and March 31 in Indonesia, although customer service support will be available online until March 15 in Indonesia and March 30 in Thailand, according to statements on the businesses’ websites. JD entered the two countries in…

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