The corporate-backed bulk grocery retailer has ceased operations approximately a year after it was formed by a merger between Tongcheng Life and Linlinyi.

Micheng Shenghuo, the China-based group-buying portal backed by corporates Bertelsmann, Joyy, Legend Holdings, LY, Suning and Tencent, filed for bankruptcy last week.

Formed in 2018 by digital travel agency LY (also known as Tongcheng) under parent company Suzhou Xiancheng Technology, Micheng Shenghuo had built an online platform that helped users buy groceries in bulk through messaging app WeChat at discounted prices.

The company was formerly known as Tongcheng Life but rebranded to Micheng Shenghuo on July 6 this year, the…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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