Coffee with you. Can you wait for the money?

How long can you keep the coffee that you want to bet on outside investment with you? A reporter from the Beijing Business Daily learned that more than 40 "creditors" who were in arrears with you by coffee came to the China Enterprise Building a few days ago. although the reception hall was packed, the relevant person in charge of the China Enterprise Investment Group, the parent company of coffee with your major shareholders, did not show up. A person in charge of the China Enterprise Investment Group said in an interview with the Beijing Business Daily that the company had set up a docking team and related issues were being dealt with. Although coffee accompanies you that there are new enterprises that will establish cooperation with you, according to the Beijing Business Research Institute, the scarred brand image may scare investors.

Escalation of the storm

As the headquarters was empty, the coffee accompany your creditor decided to seek an explanation. A few days ago, more than 40 coffees from all over the country accompanied your creditors to the China Enterprise Building on National Park Road, Chaoyang District. Among these people, there are not only franchisees, but also suppliers, construction units and investment shops. Although the reception hall on the seventh floor of the China Enterprise Building was packed, the relevant person in charge of the China Enterprise Investment Group did not show up.

China Enterprise Building is one of the offices of China Enterprise Investment Group, China Enterprise Asia Pacific Investment Co., Ltd. is a wholly-owned subsidiary, is one of the three major shareholders of coffee, accounting for 50% of the shares. A franchisee told the Beijing Business Daily that after learning at the beginning of this year that he might not be able to recover the intention money, he successively found coffee to accompany you to the Beijing headquarters and the public security organs. Although the Chaoyang Economic investigation Brigade has accepted the matter a few days ago, it still needs to wait for an investigation period of seven days to two months, and there is no news of the whereabouts of the intention money. Because of the urgent need to recover the intention money, he decided to collect the debt with the victims he could contact.

Also asking for arrears are suppliers and construction units. A supplier from Yanjiao said that the amount of money owed for the equipment for coffee accompany you amounts to 5 million yuan. In addition, seven or eight construction units came to the site, and the amount of money recovered ranged from 400000 to 1.45 million yuan.

According to the above-mentioned person, this is not the first time that creditors have come to China's investment groups to collect debts. The supplier told the Beijing Business Daily that on May 21, a group of suppliers negotiated with the China Enterprise Investment Group, and on that day, the China Enterprise Investment Group tried to send representatives to sign installment agreements with a small number of suppliers, but could not sign the contract because of the large amount of money involved.

Pass the buck

In response to the door-to-door debt collection of creditors, the head of the China Enterprise Investment Group said that the company had previously set up a special docking team to collect relevant questions raised by franchisees, suppliers and construction units. "Coffee accompanies you in the process of restructuring the company, and it has entered the final stage." At present, the company's funds need to be adjusted, and the related debt problems are being dealt with gradually.

The person in charge believes that some of the projects originally under normal construction stopped halfway, causing some suppliers to ask for a refund. In the early stage, in order to maintain the brand image, part of the funds prepared to refund the money will be used to settle the payment to the supplier in advance, and the refund has exceeded 50 million yuan. But after that, some company accounts were frozen, and under the influence of public opinion, some venture capital companies that were willing to cooperate also terminated their cooperation with the company, resulting in a tight capital chain.

But this argument is not convincing to your creditors. Beijing Business Daily reporter previously reported that the relationship between coffee and your shareholders is not harmonious. It is understood that the Korean shareholders of Coffee accompany you have been reducing their investment in Chinese companies since last year. At present, South Korea has withdrawn, leaving only the Chinese equity of Coffee with you.

The above-mentioned responsible person denied this claim. He said that as far as he was personally aware of the situation, South Korean shareholders had not yet withdrawn. In addition, the fact that coffee accompanies you is accused of owing the franchisee 150 million yuan is exaggerated. According to him, the earliest franchisee fee for coffee with you is 350000 yuan, not 500000 yuan.

Who will invest?

From the initial dissatisfaction of the franchisee, to the resignation letter of Coffee accompanying your CEO Qi Dong, and then to being exposed that the company's capital chain was broken, leading to the containment of joining merchants. Coffee accompanies you to escalate the difficulties you face. Attracting financing and finding strategic partners become life-saving straws for coffee to accompany you to invigorate the capital chain.

The person in charge of the coffee accompany you has previously said that there is a new financing intention and is expected to ease the shortage of the capital chain within a month. A reporter from the Beijing Business Daily telephoned Qi Dong, who disclosed the above news yesterday, saying that he had left his job with you from coffee, but still contacted the partner for coffee.

According to Qi Dong, at present, some enterprises that are also coffee chain brands have expressed their intention to become a strategic partner for coffee and are willing to bear part of the debt for coffee.

But in the eyes of industry insiders, coffee financing with you may not be easy. The person said that the operation models of traditional industries such as catering industry and coffee shops mostly rely on considerable profit margins and growth rates to attract investors' attention. But at present, the coffee that once maintained a high-speed shop to accompany you is precisely because of the development difficulties caused by the rapid development.

Beijing Business Daily reporter Li duo Chen Keyuan / photo taken by Wen Bing

FrontStreet Coffee is a long-established specialty coffee roaster in Guangzhou China, selling freshly roasted beans from its own farm in Yunnan as well as dozens of carefully selected single-origin beans from around the world for both pour-over and espresso. The products deliver consistently excellent quality and great value, with shipping within 24 hours. Guangzhou’s FrontStreet Coffee shop is recommended by many coffee lovers, and the beans are now available online at the Tmall 。

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