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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the Securities
Exchange Act 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date
of Report (date of earliest event reported): February </FONT>17, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>QKL STORES INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; background-color: white; background-color: white; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; font-size: 10pt; text-align: center">Delaware</TD>
    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">033-10893</P></TD>
    <TD STYLE="width: 33%; font-size: 10pt; text-align: center; text-indent: -9pt">75-2180652</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(State of Incorporation)</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;(Commission File No.)</TD>
    <TD STYLE="font-size: 10pt; text-align: center">(IRS Employer<BR>
Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">4</FONT>
Nanreyuan Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Dongfeng Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Sartu District</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">163300 Daqing, PRC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address Of Principal Executive Offices) (Zip
Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(011) 86-459-460-7825</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Registrant&rsquo;s Telephone Number, Including
Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name or Former Address, is Changed Since
Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0in">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ITEM 4.02 NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS
OR A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">On February
</FONT>17, 2012, the Audit Committee of the Board of Directors of QKL Stores Inc. (the &ldquo;Company&rdquo;), after consultation
with and upon recommendation from management of the Company, concluded the Company&rsquo;s previously issued audited financial
statements for the year ended December 31, 2010 included in its Annual Report on Form 10-K filed with the Securities and Exchange
Commission (the &ldquo;SEC&rdquo;) on March 31, 2011 and the unaudited financial statements for the three months ended March 31,
2011 and June 30, 2011 included in its Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission on May
16, 2011 and August 15, 2011 should no longer be relied upon and that disclosure should be made and action should be taken to prevent
future reliance. The Company will restate its financial statements for the year ended December 31, 2010, the three months ended
March 31, 2011 and the three and six months ended June 30, 2011 due to issues raised by the Staff of the SEC in a series of comment
letters regarding the Company&rsquo;s Annual Report and Quarterly Reports filed during 2011 relating to the calculation of earnings
per share in the financial statements and related notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The reason for the conclusion regarding the non-reliance is that
the Company should have calculated earnings per share in accordance with ASC 260, Earnings Per Share, which requires presentation
of earnings per share using the two class method when a company has securities that participate in common stock dividends. Therefore,
the Company&rsquo;s issued and outstanding convertible preferred stock, which participates in dividends of the Company on the same
basis as holders of the Company&rsquo;s common stock, should have been but was not included in the calculation of basic earnings
per share using the two class method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company&rsquo;s authorized officers and the Audit Committee,
have discussed the foregoing matters with the Company&rsquo;s former and current independent registered public accounting firms,
BDO China Shu Lun Pan Certified Public Accountants LLP and Albert Wong &amp; Co LLP. The Board of Directors has authorized and directed
that the officers of the Company take the appropriate and necessary actions to restate the Annual Report on Form 10-K for the year
ended December 31, 2010 and the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding: 0; font-size: 10pt; text-indent: 0">QKL STORES INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">By: <U>/s/ Tsz-Kit Chan</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">Name: Tsz-Kit Chan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">Title: Chief Financial Officer</TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: February 23, 2012&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v303542_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 13311}]
{"company-data": {"conformed-name": "QKL Stores Inc.", "cik": "0000808047", "assigned-sic": "5411", "irs-number": "752180652", "state-of-incorporation": "DE", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34498", "film-number": "12632057"}, "business-address": {"street1": "1 NANREYUAN STREET", "street2": "DONGFENG ROAD , SARTU DISTRICT", "city": "DAQING", "state": "F4", "zip": "163300", "phone": "3124540312"}, "mail-address": {"street1": "1 NANREYUAN STREET", "street2": "DONGFENG ROAD , SARTU DISTRICT", "city": "DAQING", "state": "F4", "zip": "163300"}, "former-company": [{"former-conformed-name": "QKL Stores, Inc.", "date-changed": "20080619"}, {"former-conformed-name": "FORME CAPITAL INC", "date-changed": "19920703"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act 1934
Date
of Report (date of earliest event reported): February
17, 2012
QKL STORES INC.
(Exact name of registrant as specified in charter)
Delaware
033-10893
75-2180652
(State of Incorporation)
(Commission File No.)
(IRS Employer
Identification No.)
4
Nanreyuan Street
Dongfeng Road
Sartu District
163300 Daqing, PRC
(Address Of Principal Executive Offices) (Zip
Code)
(011) 86-459-460-7825
(Registrant's Telephone Number, Including
Area Code)
(Former Name or Former Address, is Changed Since
Last Report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
£
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
£
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 4.02 NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS
OR A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW.
On February
17, 2012, the Audit Committee of the Board of Directors of QKL Stores Inc. (the "Company"), after consultation
with and upon recommendation from management of the Company, concluded the Company's previously issued audited financial
statements for the year ended December 31, 2010 included in its Annual Report on Form 10-K filed with the Securities and Exchange
Commission (the "SEC") on March 31, 2011 and the unaudited financial statements for the three months ended March 31,
2011 and June 30, 2011 included in its Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission on May
16, 2011 and August 15, 2011 should no longer be relied upon and that disclosure should be made and action should be taken to prevent
future reliance. The Company will restate its financial statements for the year ended December 31, 2010, the three months ended
March 31, 2011 and the three and six months ended June 30, 2011 due to issues raised by the Staff of the SEC in a series of comment
letters regarding the Company's Annual Report and Quarterly Reports filed during 2011 relating to the calculation of earnings
per share in the financial statements and related notes.
The reason for the conclusion regarding the non-reliance is that
the Company should have calculated earnings per share in accordance with ASC 260, Earnings Per Share, which requires presentation
of earnings per share using the two class method when a company has securities that participate in common stock dividends. Therefore,
the Company's issued and outstanding convertible preferred stock, which participates in dividends of the Company on the same
basis as holders of the Company's common stock, should have been but was not included in the calculation of basic earnings
per share using the two class method.
The Company's authorized officers and the Audit Committee,
have discussed the foregoing matters with the Company's former and current independent registered public accounting firms,
BDO China Shu Lun Pan Certified Public Accountants LLP and Albert Wong & Co LLP. The Board of Directors has authorized and directed
that the officers of the Company take the appropriate and necessary actions to restate the Annual Report on Form 10-K for the year
ended December 31, 2010 and the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
QKL STORES INC.
By:
/s/ Tsz-Kit Chan
Name: Tsz-Kit Chan
Title: Chief Financial Officer
Date: February 23, 2012