May Day holiday, once the bottom of the sea “several streets” of the hot pot restaurant, completely cool! The most valuable trademark was auctioned off, which means the founder is having trouble making a comeback.
The name of this hot pot restaurant is “Tan Fish Head”. When Haidilao was a “little brother”, Tan Yutou had tens of thousands of employees, assets of nearly ten billion, stores all over the north and south of the country. Now collapsed, let many people sigh.
The reason for the collapse, the founder said bluntly, is because he wanted to go public. 2009, 2011 Tan fish head twice to be listed on the shell, even at the expense of signing a betting agreement IPO, but the results ended in failure, Tan fish head also then deep in debt crisis ……
“Tan fish head” miserable auction
May 1 holiday, Tan fish head even their most valuable trademark also sold.
2021 May 1, 10:00 to May 2, 10:00, Chengdu Tan Yutou Investment Co., Ltd (Chengdu Tan Yutou) administrator in Taobao Ali auction strong clear platform, the Chengdu Tan Yutou name of 49 trademarks exclusive rights to auction, the starting price of 1 million yuan.
At 12:19 on May 2, after 188 bids and 169 delays, the 49 trademarks under the name of “Tan Yutou” were finally sold at a price of 1510 yuan. Because of the intense bidding, the auction, which should have ended at 10:00 a.m., was delayed 169 times until 12:19 a.m.
In the auction page shows that a total of 8 people registered crazy bidding, and finally sold at a high price of 15.1 million yuan.
It is reported that the auction contains 49 trademarks under the name of Chengdu Tan Yutou Investment Co. “Tan family dam” “Tan red” “TANYOTO” and so on.
Once a ten billion dollar empire
Tens of thousands of employees, stores throughout the north and south of the country
In response to the trademark will be auctioned, its founder Tan Changan had previously responded to the media that “we will get the trademark back and continue to do Tan fish head high-end brand.
However, in the industry, this is in today’s fully competitive hot pot market, the loss of the trademark Tan Changan to start from scratch, it is much more difficult.
Ltd. was established on May 27, 1997, with a registered capital of RMB 54.51 million and a legal representative of Tan Chang’an.
Tan Yutou is a hot pot empire started by Tan Chang’an from scratch. 1996, Tan Chang’an came home from the military with a 5,000 yuan transfer fee and opened his first Tan Yutou hot pot restaurant in a small alley in his hometown of Chengdu, focusing on fish head hot pot.
Unlike other hot pot restaurants, Tan Chang’an used a disposable clear oil pot base, which was visible to consumers for peace of mind. In order to satisfy consumers, Tan Chang’an removed the walls of the kitchen and replaced them with transparent glass, which was also the first restaurant to use a transparent kitchen.
Tan Yutou hot pot restaurant was a great success, after that Tan Changan opened 90 chain stores in more than 50 cities across the country in less than 3 years, and the turnover exceeded 300 million yuan in 2000.
Ten years after its establishment, Tan Yutou was on the Hurun Restaurant Rich List in 2007, and Tan Changan’s fortune had reached 2 billion, and the company’s assets were nearly 10 billion. Tan Yutou has basically completed the layout of mainland China and is ready to develop overseas.
In that year, the company’s brand intangible assets were worth 800 million RMB, making it the largest joint-stock catering company in Sichuan Province. The rapid development of “Tan Yutou” has greatly prospered the traditional Sichuan restaurant industry and become a leader in the expansion of the “Sichuan cuisine” industry abroad.
In the words of Tan Chang’an, he used to have tens of thousands of employees, hundreds of acres of plants, assets of nearly ten billion, and stores all over the north and south of China, including Taiwan and Hong Kong. Since then, Tan Yutou has become the first company to take hot pot out of the country, “having ascended to the pinnacle of catering”.
At that time, however, Haidilao had only just opened 13 outlets. Thus, it is said that 20 years ago, you can not know the bottom of the sea, but Tan Yutou’s name is a household name. Tan Yutou did indeed throw ‘Seabed Rao’ several streets at that time”.
Signed a betting agreement to go public
Failure to end
10 years to build a 10 billion empire from scratch, but only 4 years to play tens of billions of assets completely collapse. Tan Changan also said that this shocked the entire restaurant industry, but also shocked himself.
And the reason for the collapse, Tan Changan said bluntly, is because he wanted to go public. Even for this reason, he did not hesitate to sign a betting agreement, but the results all ended in failure, Tan fish head also then deep in debt crisis ……
According to reports, in 2001, Tan Changan went to Hong Kong to set up a Hong Kong Tan Fish Head Group Holdings Limited (hereinafter referred to as “Hong Kong Tan Fish Head”); in 2003, the first Hong Kong Tan Fish Head branch in Causeway Bay opened.
Tan Changan said that the purpose of opening a company and branch in Hong Kong is to go public.
“After we opened the company in Hong Kong, we did it all according to the rules of going public. The accounting firm we hired is also PricewaterhouseCoopers, and all the standards are always done according to the standard listed company.” Tan Changan introduced.
In 2009 and 2011, Tan Fish Head twice in Hong Kong to be listed on the shell, were other companies “shortcut” high price to take away.
Even at the expense of signing a betting agreement, the results ended in failure, Tan Yutou also fell into a deep debt crisis ……
Tan Chang’an himself believes that it is this decision that directly affects the fate of Tan Yutou.
According to Tan Changan’s interview with Red Star Capital Bureau, he recalled that he had signed a betting agreement with a venture capital firm in Hong Kong: the venture capitalist would pay $20 million, while Tan Yutou would have to spend three years to reach the profitability target and take the company public. Tan Changan said he began to prepare, renovate and open stores in accordance with the $20 million scale, and even made some equity investments in other hot pot companies as well.
But according to Tan Changan, the promised $20 million has been spent, but the venture capital money only came in for the first $5 million. And the $15 million hole, he finally had to fill the hole himself, which also led to the “Tan Fish Head” follow-up capital chain problems.
Like dominoes, the first one fell, in Tan Changan’s words, is a “tofu block” size news: In 2013, Sichuan media released news that a small loan company will Tan Fish Head Investment Company and Tan Changan to court, demanding its immediate repayment of the loan principal of 15 million yuan and interest of more than 2.2 million yuan.
This directly reduced Tan Changan’s credibility with banks further and made it more difficult to borrow money. But counting the high interest on the loan, it was difficult for him to reach the profit requirement in the betting agreement, and he would also face a high betting payout.
So piece by piece down, finally, because Chengdu Tan Fish Head insolvency, loss of business capacity, creditors filed for bankruptcy of Chengdu Tan Fish Head in 2016, and was eventually ruled by the court bankruptcy liquidation.
In August 2020, Tan Yutou closed its last store.
In May 2021, Tan Yutou was even auctioned off for its trademark.
Looking back today, Tan Changan said, “If you are not destined to be listed, you should not force it.”
The founder has become a “rogue”: more than 30 million in debt
The poorest when there was not a dollar in his pocket
Hand-founded empire of ten billion collapsed, as for Tan Changan himself, has long become a “rogue”.
The information shows that Tan Chang’an was born in April 1963, a native of Pingchang County, Sichuan. 1980 after graduating from high school and joining the army, after discharge from the army in 1996 founded the “Tan fish head” hot pot restaurant, 10 years later became a 10 billion empire, the highest wealth of more than 2 billion.
Now, according to the sky-eye search, Tan Changan has 5 cases temporarily suspended because he has no enforceable property, and the amount involved in these 5 cases is more than 31 million yuan, and the ratio of unfulfilled is 100%.
Tan Changan has also been listed as an “Old Scoundrel” and a defaulted executor.
Tan Changan has also been restricted from spending several times. The most recent one was in June 2020, applied by the Chengdu Minjiang Sub-branch of China Construction Bank Corporation. Tan Chang’an owes CCB Bank of Chengdu an amount of less than $50,000. As of March 27, 2018, Tan Changan still owes CCB Chengdu Minjiang Sub-Branch the principal amount of the loan of RMB 44,921.69, interest of RMB 2,954.52 and penalty interest of RMB 1,126.94.
According to media reports, Tan Changan said, “When I was in distress, I didn’t even have a dollar in my purse.”
However, in the era of short videos, it seems that everyone tries to be a netizen after failing. Tan Changan, who is nearly 60 years old, is no exception. Shake shows that Tan Changan has registered an account and released 14 works. He said that after 30 years of ups and downs in the business world, he has many stories and insights that he hopes will help entrepreneurs.
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