Notwithstanding the fact that following the hue and cry on large-scale order cancellations by global buyers, which forced many buyers to reinstate cancelled orders and pay up or reach an agreement with the suppliers on pending payments, TJ Maxx is one such name, which is allegedly yet to clear dues to its suppliers in Bangladesh, as per media reports.
With more than 1,000 stores in the United States, TJ Maxx is one of the largest clothing retailers in USA and is the flagship chain of the TJX Companies.
According to media reports, which cited an official of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), two suppliers in Bangladesh have reportedly claimed that TJ Maxx has cancelled orders on account of COVID-19.
TJ Maxx has cancelled work orders worth US $ 85,950 and held up payment for work orders worth US $ 125,000 with another supplier, underlined reports even as the company reportedly distributed US $ 480 million to its shareholders recently.
As per reports, the TJX Companies, the parent company of TJ Maxx – which has been sourcing its requirements from few Bangladeshi factories — and Marshalls, has also got US Government credit for COVID-19.
The report also underlined that BGMEA only has information on these two suppliers but there could well be others who are supplying to the retailer.
Meanwhile, when contacted, concerned official of the company reportedly said that TJX takes a ‘quiet approach’ on such issues and wouldn’t have anything to add.