(Yicai Global) Aug. 29 -- The message claiming that Metro will cease all operations on the Chinese mainland in the next few months was posted by someone pretending to work for Metro China and has harmed the company’s reputation, the German wholesale giant said yesterday. The matter has been reported to the police.

"Metro has decided to close its China business in a matter of months," a person recently posted on a WeChat group composed of local Metro customers. “This is because the change in president of the parent company has led to the abrupt withdrawal of investment. If anyone needs to stockpile goods, please contact me.”

This is not the first time that Metro has been beset by rumors that it will quit the Chinese market but its local operations have remained normal. The Dusseldorf-based retailer, which opened its first China outlet in 1996 in Shanghai, runs 100 brick-and-mortar stores across over 60 cities in the country.

Metro sold an 80 percent stake in Metro China to Chinese retailing giant Wumei Technology Group in 2020 for EUR1.9 billion (USD1.8 billion) and the joint venture Metro Wumart China was subsequently formed. Metro China, however, continues to operate independently under existing management and has kept the Metro brand.

E-commerce business is a key development direction and Metro greatly values Beijing-based Wumei's digitization ability, Claude Sarrailh, former Metro China president, told Yicai Global.

Founded in 1964, Metro operates over 760 wholesale malls and food distribution businesses in 35 countries covering a sales area of more than 5.2 million square meters, according to public information.

Editors: Shi Yi, Kim Taylor