Dude, where’s my P400M? Shoe magnate gets burned in food franchise of high-living business partner
A shoe magnate (SM) is doubtful he will get back the P400 million total investments he chipped in to a foreign food franchise put up by a school buddy (SB) a few years ago.
SM usually has a good nose for business but even he admits he and his young gang of bilyonaryos were fooled by SB’s promises of quick profits from the food franchise.
SM thought SB had inherited the legendary business acumen of his lolo but he turned out to be living proof of the well worn adage that the third generation blows all the family fortune away.
While the franchise started out like a house on fire, the buzz on the business quickly flamed out mainly due to over expansion and mismanagement.
While the prospect of losing P400 million to a bro he trusted is agonizing, what hurts SM the most is how SB seems to be unaffected.
While the franchise has been bleeding red every quarter, SB has been hoarding luxury items and flaunting his swag on social media like he was Floyd “Money” Mayweather.
One of these days, SM and his co-investors will sue SB and not even his P45 million exotic car, collection of luxury watches and bags won’t be enough to pay for his debts.