酒类流通平台壹玖壹玖陷资金困境？加盟商曝其“以货抵债”

Core Viewpoint - The company 1919, a leading player in the liquor distribution sector and the first to be listed on the New Third Board, is facing significant financial difficulties, including large-scale delays in payments to franchisees, which has led to cash flow issues for many stores [1][2][4]. Group 1: Financial Difficulties - Since June 2023, 1919 has reportedly begun to delay payments for online business settlements, causing financial strain for franchisees [1][2]. - A complaint letter indicates that 1919 has not paid franchisees for online orders since June, with amounts owed ranging from tens of thousands to hundreds of thousands of yuan per store [1][2]. - Franchisees have expressed frustration over the lack of clear communication regarding payment timelines, receiving only vague responses from the company [1][2]. Group 2: Business Model and Operations - 1919 operates as a liquor e-commerce platform, primarily sourcing products from distributors and selling them through both physical stores and online platforms [3][4]. - The company has shifted from a direct sales model to a franchise model, with a significant increase in the number of franchise stores, which now account for a large portion of its operations [10][11]. - The company has faced cumulative losses exceeding 1.5 billion yuan, despite rapid expansion and increased store numbers over the years [7][8]. Group 3: Franchisee Relations - Franchisees have reported that the delayed payments have severely impacted their ability to cover essential expenses such as rent and salaries [4][10]. - In response to the financial crisis, 1919 has proposed a "goods-for-pay" scheme to franchisees, allowing them to offset debts by purchasing inventory, although not all franchisees are willing to accept this arrangement [12][11]. - Some franchisees have indicated that they are unwilling to accept the proposed inventory as they already have unsold stock, and they are considering legal action to recover owed payments [12][11].