Synchrony, Walmart Settle Their Legal Differences and Agree to Extend Business
In a sign that even burnt bridges can be rebuilt, Walmart and Synchrony Financial announced the end to their legal proceedings and that the two have agreed to continue their business relationship—albeit in a different capacity.
Back in November, Walmart filed a lawsuit against its long-time credit card issuer alleging that the company breached its contract and that the retailer was being harmed financially by their more than two-decade-old partnership. That suit, which was for damages of around $800 million, came around the time that Walmart informed Synchrony that it would replace the card issuer.
Despite what seemed like an irreparable relationship, an announcement shared this week would have us believe that the two are set on mending their broken bond.