From millionaire to street vendor: bankrupt Chinese restaurant chain boss sells sausages to repay US$6.4 million debt
- A former entrepreneur in China who lost everything and still owes US$6.4 million is raising money by selling grilled sausages
- His story has moved millions on social media after it was reported, with many people applauding his positive attitude
A bankrupt ex-millionaire Chinese restaurant owner has trended on mainland social media after declaring he will repay a debt of 46 million yuan (US$6.4 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 the multi-million yuan mountain of debt he faces after declaring bankruptcy, the Qianjiang Evening News reported.
Tang had been a successful businessman, owning several restaurants and by the age of 36 had built a considerable fortune.
However, in 2005 he made a foray into the landscape engineering industry and his fortunes changed. The more money he invested in the venture, the more he lost.
Eventually, he was forced to sell his restaurants, homes and cars but debts of US$6.4 million remained.
That is when he came up with the sausage-selling plan.
“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.
