Report: Hanjin Shipping bankruptcy impacts holiday deliveries

The bankruptcy of South Korean shipping giant Hanjin Shipping is forcing retail chains to spend lots of extra cash to get their goods through ports to warehouses in time for the holiday shopping season, the Los Angeles Times reported.



The report details how the shipper’s bankruptcy has affected Ashley Furniture, and reveals that the company has spent more than $1 million to retrieve stranded containers and get the ones that have arrived in Los Angeles out of the ports.



"It’s going to affect our bottom line. It’s all stuff that is additional bills out of our pocket,” Margaret Pronschinske, VP of supply chain planning at Ashley, told the Los Angeles Times.



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