Yanxitang was sold at 0.7 million yuan at auction, which was lower than that of equ ivalently famous brands
Jinan, June 21---In the auction hall of Shandong Guangcai Yinxing Auction Company, the 78-year-old brand Yanxitang that is paid much attention by Jinan natives changes its ownership.
Established in March 1932, Yanxitang Restaurant is a very famous catering brand and a representative of Lu Cuisine in Jinan.
It is learned that the auction was performed forcibly by Jinan Shizhong People s Court in response to debtors requirements. The minimum bid was 170,000 yuan, and three companies finally took part in the auction, which separately are Shandong Shunhe Hotel Group, a Fast-food Chain Restaurant, and Jinan Urban Construction Hotel.
Finally, Ren Benxiang, president of Shandong Shunhe Hotel Group won the auction at 700,000 yuan. The price is not high comparing with other old famous brands.
It embodies the painstaking efforts of several generations, as well as bears century s culture and history of Jinan. I hope those Jinan natives who once had dinner parties, wedding banquets, or birthday parties here can still find the place retaining their beautiful memories, said Ren Benxing.
After the completion of the auction, Ren Benxing began to negotiate with the later generation, chefs, and management staff of Yanxitang to resume its prosperity.
By Susan
