Click to read the original article for details. On October 15, according to public information, Wumart will take over more than 70 stores of Linjia Convenience. This also means that Linjia Convenience, which closed all 168 stores at the end of July this year due to a funding chain rupture, has successfully found a 'white knight'. Going back to August 1, 2018, Linlijia (Beijing) Trading Co., Ltd. sent a notice to suppliers stating that the company would suspend all headquarters operations from August 1 and gradually cease store operations. The notice stated that the reason for this situation was that "the company's sole investor behind the scenes was under investigation by Shanghai police, leading to the freezing of the company's bank accounts. Because the company is in a development stage and has not yet achieved real profitability, it still requires investor capital injection to operate. Store sales revenue alone is insufficient to cover expenses, and the company's accounts have been sued by some suppliers to the court for property preservation, with account funds frozen, leaving no disposable funds in the company's accounts." Linjia Convenience also stated in the notice that since it was unable to contact the company's legal representative and shareholders, the debt and creditor relationships between suppliers and Linjia Convenience could only be resolved through legal proceedings for preservation. This means that Linjia Convenience has publicly declared its bankruptcy. Moreover, the management team does not intend to bear the subsequent debt and cooperation dispute resolution. This convenience store enterprise, which once stirred up a wave in the Beijing market, left in such a manner, truly lamentable. Yesterday, according to reliable sources, Wumart's acquisition of Linjia Convenience has become a foregone conclusion, and the Linjia team has already started working at Wumart. Earlier, in August this year, two industry insiders revealed that Wumart was in talks to acquire Linjia Convenience, with one even saying the two sides had reached an agreement. However, Wumart did not respond positively to the news at that time. According to a convenience store practitioner who knows Linjia Convenience CEO Wang Lei, Wang Lei joined Wumart in September. In his view, with his experience at 7-Eleven and Linjia Convenience, Wang Lei can bring new breakthroughs to Wumart's convenience store management and operations. Wumart, primarily operating hypermarkets, has actually been running convenience store business in Beijing for many years, and has now opened 218 stores. According to the "2018 China Convenience Store Top 70" report released by the China Chain Store & Franchise Association in April this year, Wumart Convenience ranked 46th with 183 stores at that time. However, compared with foreign convenience stores such as 7-Eleven, FamilyMart, and Lawson, as well as Beijing's Haogelin Convenience, Wumart Convenience is not a leading player in the Beijing convenience store market. Its business model is more traditional, mainly selling packaged food and beverages, with no obvious advantages in private label products or fresh food. Therefore, in the speculation about who would take over Linjia Convenience, industry insiders thought more of emerging convenience store brands like Suning Xiaodian and Bianlifeng. There are also skeptics about Wumart taking over Linjia Convenience. A person in charge of a Beijing convenience store enterprise said, "For a company like Linjia, if it continues to develop, it's fine, betting on the future. Once it stops, it only has negative value." But taking over Linjia Convenience stores will help Wumart quickly achieve its store layout goals. According to Beijing Business Today, Wumart Convenience General Manager Dong Gang once revealed that Wumart opened nearly 80 new stores in 2018, the fastest in recent years. This year, Wumart Convenience's goal is to sprint to 300 stores by the end of the year. At the 2019 Wumart Supplier Annual Meeting on October 15, Wumart Group COO Xu Shaochuan also proposed opening 260 new stores next year, of which 160 will be small-format stores. As Wumart begins to increase investment in the convenience store format, directly absorbing well-located stores through acquisitions and takeovers is a more direct approach. The next step is to see how Wumart will renovate Linjia's stores, after all, the latter's property rents are not cheap, and there is overlap with existing Wumart convenience stores in some areas and business districts. As for how historical issues such as Linjia Convenience's debts and unpaid wages will be resolved, Wumart has not yet disclosed. Business registration information shows that Linjia Convenience's company, Linlijia (Beijing) Trading Co., Ltd., as the person subject to execution, has 21 risk warnings. Source: Jiemian News On October 23-24, the 2018 China FMCG City Distribution Logistics Conference, hosted by New Distribution, will be held in Changsha. Industry big names have sent blessings for the conference. Click the video to watch; more details below. On October 23-24, during the Autumn Sugar and Wine Fair, the '2018 FMCG City Distribution Logistics Conference' hosted by New Distribution will invite industry experts, FMCG warehousing and distribution specialists, and distributors transforming to unified warehousing and distribution platforms to discuss and answer questions about future development trends in FMCG city distribution logistics and practical cases of distributor transformation to unified warehousing and distribution, under the theme 'New Distribution, New City Distribution'. We hope to bring you different inspiration and thinking! The specific agenda is as follows: List of Participating Companies In no particular order Hunan Zonglan Diandan Network Technology Co., Ltd. Jingbang (Wuhan) International Freight Forwarding Co., Ltd. Mengniu Dairy Qinghai Hanxiang E-commerce Co., Ltd. Unilever Services (Hefei) Co., Ltd. Shanghai Branch Huicong Hunan Xuanang Food Co., Ltd. Guangzhou Tongdaoren Information Technology Co., Ltd. Qingdao 888 Trading Co., Ltd. Uni-President Enterprises (China) Investment Co., Ltd. Hunan Province Zhongxiang Gongpei Logistics Co., Ltd. Shenglong Ingredients COSCO Shipping Logistics Warehousing and Distribution Co., Ltd. Guangxi Yongpai Liquor Industry Co., Ltd. Shangqiu Kangrong Trading Co., Ltd. Jinan Dingzhong Economic and Trade Co., Ltd. Liaoning Bimai Agricultural Technology Co., Ltd. Kunming Xiongjia Trading Co., Ltd. Shaanxi Houheng Trading Co., Ltd. Guangzhou Dingwo Enterprise Information Consulting Co., Ltd. Shaodong Jiajiale Commercial Firm Boda Trading Industrial Bank Changsha Branch Wuhan Muchen Convenience Store Chain Co., Ltd. Fujian Fuxing Yuncang Logistics Co., Ltd. Guizhou Yilimi E-commerce Co., Ltd. Jiangxi Xiao Laoer E-commerce Co., Ltd. Jinshan Koufu Shanxi Taihang Yuanjing Supply Chain Management Co., Ltd. Shanxi Dezhun Supply Chain Management Co., Ltd. Shaoyang Tongdeli Trading (Xiangbang Logistics) Huanfu Tongda Express City Distribution Beijing Xinjingxiang Food Co., Ltd. Wuhan Huizhong Tianhong Liquor Co., Ltd. Changsha Paide Biotechnology Co., Ltd. Chaoan Tuqiang Guizhou Yihe Bopin Supply Chain Management Co., Ltd. Jiangxi Kang'en Industrial Development Co., Ltd. Xiangtan County Yisuhe Town Yuhua Paper Store Luoyang Yuanlang Trading Co., Ltd. Tongchuan Yaozhou Huayuan Supermarket Co., Ltd. Hunan Yongfu Jiujiu Trading Co., Ltd. Zhejiang Chengchengtong Logistics Co., Ltd. Chongqing Kaiguo Materials Trading Co., Ltd. Beijing Xianmaixianmai Data Technology Co., Ltd. Hanchuan Qixing Trading Co., Ltd. Tongxin Jiuzhi Trading Co., Ltd. Guizhou Meiguo Guoguo Network Technology Co., Ltd. Hubei Anjie Logistics Co., Ltd. Hubei Kuaixiao Internet Technology Development Co., Ltd. ...... Distributor Transformation Representatives (Proposed) In no particular order Rong Jun, Chairman of Jiangsu Huashang City Distribution Network Co., Ltd. Wang Bo, Chairman of Hubei Yijiaren Logistics Co., Ltd. Jiang Shuming, General Manager of Sichuan Chengdu Xingrenxing Trading Co., Ltd. Liu Jichen, Chairman of Shandong Yunbang Warehousing and Logistics Co., Ltd. Tu Mingyu, Chairman of Chongqing Lingyu Consumer Goods Supply Chain Management Co., Ltd. Yang Su, Chairman of Guangzhou Zhongshan Wanrong Marketing Co., Ltd. Yuan Xia, Chairman of Sichuan Bajie Supply Chain Management Co., Ltd. Li Qiangyun, Co-founder of Hubei Pengdun Meiyitian Supply Chain Management Co., Ltd. Zhang Jianyong, Chairman of Henan Xuchang Jiulegou E-commerce Co., Ltd. Ma Haichao, Founder of Hebei Changyi Logistics Co., Ltd. Meng Yucun, General Manager of Hebei (Chengde) Wulian Yun Warehouse Co., Ltd. Zhang Xun, Chairman of Urumqi Su'an Jinchi Logistics Co., Ltd. Zhang Hailing, Chairman of Jilin Sansheng Lian'gou Qiang Huitao, Founder of Hebei Dunjie Supply Chain Management Co., Ltd. Liao Lei, General Manager of Hunan Damei Supply Chain Management Co., Ltd. ...... -END-