Several of the online fresh fruit and vegetable retailer's subsidiaries have filed for bankruptcy despite it raising more than $800m from investors including Alibaba and Suning.
Yiguo, the China-based fresh food delivery service that counts appliance manufacturer Suning and e-commerce group Alibaba among its investors, has entered the bankruptcy stage, China Money Network reported on Friday.
Founded in 2005, Yiguo runs an online platform where customers in some 310 Chinese cities can order fresh produce. It maintains a regional network of cold chain logistics centres and offers one-day delivery in cities including Beijing, Shanghai, Guangzhou and Chengdu.
Although some parts of the e-commerce sector have done…
