Bankrupt China entrepreneur makes comeback with roasted sausage stall, inspires many


A Chinese businessman who went from owning three restaurants to bankruptcy, then made a comeback with a roasted sausage brand, has inspired many people online.

Tang Jian, 57, used to own three popular restaurants and bars in Qingdao, a coastal city in eastern China’s Shandong province.

He said that during the peak days of the 2000s, his business generated three million yuan (US$420,000) a month.

Tang Jian saw his food and drinks business spiral into debt due to bad investments. Photo: Douyin
Tang Jian saw his food and drinks business spiral into debt due to bad investments. Photo: Douyin

But he “greedily” wanted to earn fast and invested his own money and loans from others into maple wood and other businesses that he had no knowledge about.

In 2015, Tang found himself in debt to the tune of 46 million yuan (US$6 million).

He announced bankruptcy, shut down his restaurants and sold his properties, but what he raised fell far short of covering the debts.

Tang regularly argued with his wife, and she eventually divorced him.



Source link

Leave a Reply

Your email address will not be published.