The hidden danger of the rapid expansion of community freshness turned to the multi-faceted investment in catering industry and finally collapsed

category:Finance
 The hidden danger of the rapid expansion of community freshness turned to the multi-faceted investment in catering industry and finally collapsed


Fresh Friends Please Invest Behind the Mine Explosion Maze

The hidden danger of the rapid expansion of the community, turning to catering and multi-faceted investment and eventually collapsed, many mergers and acquisitions were wrong.

Recently, the Hangzhou chain of fresh brand Fresh Friends Please and its affiliates Wanchun Shuiji, staying in a small stove fund linked to the thunderbolt incident has made new progress: since July 9, the companys management Zhang Zhihao, Wu Mingming and others were taken criminal coercive measures by the police, the case is still being further processed, and is currently related to the company. Unless public deposits are illegally absorbed in financial audits, Fresh Friends ask executives to be suspected of fund-raising fraud.

Since mid-July, Beijing News reporters have visited the headquarters and stores of related companies, interviewed a number of employees and investors, and tried to restore the capital explosion incident involving high private investment, suppliersmoney, employees wages, recharge cards and so on.

Obviously, bold words cant save the company. According to the alert posted on the door of the company, on July 8, the West Lake Branch Bureau of Hangzhou Public Security Bureau had investigated the suspected illegal absorption of public deposits by Hangzhou Mengfang Health Science and Technology Chain Co., Ltd. and on July 9, punished five suspects, including Zhang Mohao, Wu Mooming, Huang Mohui, Zhang Mou and Xu Modong. The case is still under further investigation.

Recently, Beijing News reporters learned that, in addition to illegally absorbing public deposits, Fresh Friends asked senior executives to be suspected of fund-raising fraud. Among them, Zhao Shuafeng, a shareholder in the training workshop, was criminally detained on suspicion of fund-raising fraud. He is now detained in the detention center of Yuhang District, Hangzhou City. Wu Mingming, the legal representative, is detained on suspicion of illegally absorbing public deposits. In the detention center of Xihu District of Hangzhou City, the case is still under further processing, and financial audits are being carried out on the involved parties and related companies.

Running with all ones life

According to store manager Qingyun, at the end of 2018, all stores were out of stock, especially spices and other standard products. Since January 2019, the workshop began to default on employeessalaries. Since February, almost all shop employees have not received salaries, including the director of operations. But at the same time, Fresh Friends have offered recharge concessions, that is, 300 for 100, 3000 for 1500, and even 10000 for 3000. Qingyun said that before, they were charged 100 to 5 yuan, 500 to 30 yuan, etc. Many elderly people carefully recharge, the results can not be used.

Suitable Tan Zi Pickled Vegetable Fish Store was not renovated by enclosure only.

No money is the consensus of almost all familiar with fresh friends. In the view of store manager Qingyun, the customers of community fresh shops are basically the elderly, and they are price sensitive. But relative to the surrounding vegetable shops, fresh friends invite dishes are not fresh, the price is high, others sell four or five yuan a catty of amaranth, fresh friends please sell 10 yuan, bad stores a month turnover of several thousand yuan. Occasionally when doing activities, business is better, but the basic purpose of doing activities is to drain, lose money and earn a shout. In the later stage, the stores are out of stock and the quality of products is getting worse and worse, and there is no improvement with the company.

Fresh market competition is fierce. In mid-July, Xin Jing Daily reporters visited Fresh Friends to invite a shop on Changqing Street in Hangzhou, which had been renovated and replaced by its owner. The new shopkeeper told Xin Jing Daily that the investment in opening fresh stores is not high enough, 500,000 yuan is enough to open this 130 square meters shop, but the rent is high, the competition is fierce and the business is not easy to do. Xin Jing Daily reporters noticed that there are three fresh supermarkets within 50 meters from this store.

The supplier, Soviet Airlines, points out that the breakdown of the capital chain is related to its operation mode. Fresh loss is difficult to make profits. It is a money-burning business, which needs strong financial support. Fresh friends, please do not have venture capital to enter, mainly from personal investment. The stores must open much more quickly. Only in this way can more investors be attracted. In addition, the companys management is chaotic, with the goal of attracting investment, the original 70 square meters of fresh stores, in order to attract investment, must do 200 square meters of large stores, high cost and increase operating costs, and in the latter stage, in order to attract more funds, can only offer investors more favorable returns.

As far as fresh friends are concerned, a store can absorb more than one shareholder. The whole trusteeship of the workshop accounts for 51% of the shares, and the shareholders account for 49% of the shares. The return on investment of over 100,000 is 10% of the turnover, more than 300,000 is 13%, and more than 500,000 is 15%. Return on turnover is also the most important place for many investors. After all, doing business is risky. Compared with profit dividend, turnover dividend almost means making a steady profit. The workshop also promises 5-year total income is 1.5-2 times, and one-and-a-half to two-year return.

Turn to Catering Money

As early as August 2018, Zhang Zhihao, the chairman of the board, made it clear that the focus should be shifted to catering, and after that, he would not give fresh friends a penny. Enterprise survey shows that on September 3, 2018, Zhang Zhihao and Wu Mingming jointly founded Hangzhou Staying Small Stove Catering Management Co., Ltd., which is also the beginning of its shift to catering, relying on a number of brand crazy investment and financing at the same time.

Gongshu Wandas start-up fund of Calculating Tanzi pickled vegetable fish is 4.28 million yuan, Zhong Jie contributes 2.1 million yuan, accounting for 49% of the shares, and stays in small stoves 51%, which is reflected by the cost of supply chain use, brand promotion and comprehensive operation. According to the contract, staying in the kitchen promises to have a minimum daily turnover of 25,000 yuan and return 20% of the turnover. But the store did not open on time, only paid three months rent, and the interior was not decorated, only enclosed with fencing.

Zhong Jie learned that the rent, decoration and other expenses of this store only need 1.64 million yuan, even with labor, operation and so on, 2.1 million yuan is fully enough, and the comparison among investors found that the store does not absorb a total of about 4.6 million yuan, exceeding the 4.28 million yuan needed by the store, that is to say, its financing amount is far more than the actual needs. However, this is not an example of staying in a small stove. Taking the street shop on the Suitable Tanzi Canal as an example, the total amount of the shop is 38.77 million yuan, but the total amount of fund-raising is 4.6 million yuan. Previously, staying in small stoves did not allow investors to have contacts.

Luo Bin, a chef at a shop of Calculating Tanzi pickled vegetable fish, told the Beijing News that only two of the five pickled vegetable fish stores had good business, but their daily turnover was between 14,000 yuan and 16,000 yuan, which was less than 25,000 yuan, while the turnover of other stores was only several thousand yuan. Luo Bin also said that when the company sees what projects are more popular, it immediately goes to school and joins the brand after learning, regardless of the actual market situation and operation mode. Some projects are closed in more than ten days or even a few days. Milk tea is sold for tens of dollars a day and hundreds of dollars a day, and even employees are transferred from the store to work. Line up in front of the new project to create an illusion of business boom and absorb investment.

Wang Dongming, a strategic consultant for catering chain brands, once told the Beijing News that many enterprises do catering franchise and investment, but the phenomenon of relying on franchise circle money is more common. Some companies will register multiple brand trademarks to invite business franchise, but there is no follow-up operation management at all. When a brand is yellow, they will continue to circle money by changing a new brand. Joining also needs to shine your eyes. In the view of chef Luo Bin, staying in a small stove is this mode. Instead of sinking down to make a brand bigger and stronger, it is crazy to explore new brands and find investment.

On May 6, Cong Liang made an appointment to sign an investment contract with the company. About 5 kilometers away from the destination, Ms. Chen of China Merchants Department suddenly said that there was no one in the company and the leaders were meeting outside. Vice-President Li Juan waited for him at a nearby cafe (signing a contract). Cong Liang did not think much about it. She invested 1 million yuan and the other side also transferred his Jeno shares worth 200,000 yuan. Cong Liang said, If something goes wrong with the company, let me sign the contract. This is naked fraud.

According to a bill given by some investors, from September 2018 to February 2019, according to incomplete statistics, the total amount of investment received by staying in small cooking stoves exceeded 68 million yuan, but was transferred successively to over 87 million yuan, of which over 60 million yuan was transferred to the related company maintenance workshop, Wan Chun Shui Machine and Fresh Life Friends invite supply chain companies, while some were transferred to supply chain companies. Lending by company executives. This also means that staying in the cooking stove did not achieve the special purpose promised by the restaurant project when inviting investment.

Xu Feng, senior partner of Shanghai Chuangyuan Law Firm, believes that the companys actions may be suspected of illegal absorption of public deposits or fund-raising fraud, but ultimately, a lot of evidence is needed to determine how to do so.

Chaos

Zhang Zhihao got the funds to open fresh stores from consumers and affiliates of Wanchun and Yitai Water Machinery Project. After that, he opened fresh stores crazily, regardless of cost. He attracted users and advertised advertisements by means of money-burning subsidies. After making brands, he attracted investors to throw money, ignoring the refined operation most needed by the fresh industry.

In the eyes of investors and employees, when the fresh holes grow larger and larger, he would have had the opportunity to smooth things out through mergers and acquisitions, but still look forward to earning a fortune. As a result, he turned his attention to more profitable catering, once again hoping to rely on investorsmoney to fill the pits previously dug, and embark on the road of selling brand self-help. As a result, investors invited by Hydraulic Machinery and Fresh Friends were pulled to share or invest in catering after losing money. According to Soviet Airlines, the financial pressure continued to increase, Zhang Zhihao panicked in March and April, catering projects transformed, projects continued to increase, and he looked forward to working to save the whole. However, the mode of blindly looking for money to expand and neglecting operation is not sustainable, and ultimately the funds are totally broken. On July 9, some managers of the Maintenance Workshop and its affiliated companies were taken away by the police on suspicion of illegal absorption of public deposits and fund-raising fraud.

In the view of many people close to the training workshop, they have many opportunities to save themselves. Even after the explosion, they are fully capable of paying employeeswages and citizen recharge cards through mergers and acquisitions, resale and other means.

Li Hui told Xinjing Daily that as early as May and June 2018, Ming Kanghui had asked Fresh Friends to negotiate with him. At that time, Ming Kanghui wanted to invest more than 200 million yuan to buy the latter, but Zhang Zhihao felt that the price was too low. The lions big mouth cost 400 million to 500 million yuan, and the two sides collapsed. Since then, the companys funds have been tight, since March and April this year, including Greentown, geographic fresh, Yonghui, No. 1 food and other fresh friends have contacted, but ultimately all failed.

In May this year, the purchase of No. 1 Food attracted the widest attention. No. 1 Food began to test aquatic fresh format in 2018, focusing on Guangdong, and the acquisition of fresh friends can help it expand the East China market. On May 6, Fresh Friends asked to release the news that the two sides are about to reach strategic cooperation, but on May 12, Fresh Friends asked to close the store on the grounds of the purchase and accounting of No. 1 Food, but in fact, the two sides only signed a framework agreement and did not determine the purchase intention. According to Bai Reuters, a company insider, No. 1 Food finally gave a plan, willing to invest 60 million yuan, accounting for 80% of the shares, invite fresh friends to invite stores and pay workerswages and consumer recharge. But Zhang Zhihao asked to pack up catering, repay the debts of investors and suppliers, and eventually the acquisition was terminated.

But according to Soviet Airlines, Zhang Zhihao has finally agreed to sell tens of millions of fresh friends. But in the later stage, he could not control the whole company. Wu Mingming was in charge of inviting investment. The amount of investment involved in inviting investment was too large. He wanted to keep himself and pack the debts of investors to the sellers, but no one would accept the 300 million yuan investment. But today, Fresh Friends invite 130 stores, the most important asset, to expire or default.

(The employees and suppliers involved in this paper are aliased names. )

D01-D03 Edition Collection, Photography/New Beijing News Reporter Zhang Xiaorong