From millionaire to street vendor: Bankrupt Chinese restaurant chain boss sells sausages to repay $8.9 million debt

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A bankrupt ex-millionaire Chinese restaurant owner has trended on mainland social media after declaring he will repay a debt of 46 million yuan (S$8.9 million) by selling grilled sausages. Tang Jian, 52, has earned plaudits from the Chinese public with his plan to raise money by setting up a street-vendor stall in the eastern Chinese city of Hangzhou to repay...

A former multimillionaire restauranteur in China finds himself bankrupt and selling sausages on the street, but is determined to repay his debts.A bankrupt ex-millionaire Chinese restaurant owner has trended on mainland social media after declaring he will repay a debt of 46 million yuan by selling grilled sausages.

Tang had been a successful businessman, owning several restaurants and by the age of 36 had built a considerable fortune. Eventually, he was forced to sell his restaurants, homes and cars but debts of US$6.4 million remained."Every sausage is genuinely filled with meat, and there is no starch in it. When compared with those sold in amusement parks or markets, ours will make you feel safer," Tang said.

Source: Loan Digest (loandigest.net)

 

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