In early April, due to the sudden withdrawal of the acquired party, Yummy 77 faced serious cash flow problems, and it was forced to hastily suspend its. After that the suppliers took commodities from their warehouse, as compensation for their overdue payment. Overall 6 million Yuan worth of consumer prepaid cards can't be used, and Yummy 77 failed to offer a satisfactory solution to this, which made consumers extremely disappointed.
It is reported that Jialebao E-commerce Co. Ltd, established in late 2014, is an O2O general produce platform that is owned by Dahan Tricom Holding Group. Its product range covers items from fresh produce and seafood to daily consumptions such as grain, oil, eggs and milk. It has built its own warehouse and cold chain logistic system, which so far covers the whole Pudong region in Shanghai city. The founder of Jialebao expressed his intention to this acquisition the moment he saw the closure announcement from Yummy 77. After mutual negotiation and agreement, they finally reached the current acquisition plans.
According toJialebao E-commerce Co. Ltd, they will manage and work closely with Yummy 77 to completethe acquisition as soon as possible, so that their business can be restored tonormal operations. If everything goes smoothly, a sum of money will beallocated to Yummy 77 to solve the suppliers' due payment issues in accordancewith the law. After the successful takeover, Jialebao will optimize the currentproduct categories. In terms of the 3 million+ consumers from Yummy 77 in theShanghai region, they can continue to enjoy fresh home delivery services, and prepaidcards will continue to be used.