# restaurant industry
Latest news and articles about restaurant industry
Total: 4 articles found
Xibei’s Founder Abandons Personal Branding as Chain Braces for Heavy Losses and Store Closures
Xibei founder Jia Guolong said he will stop cultivating a personal brand and return to frontline operations as the group forecasts more than RMB 600 million in losses and prepares to close about 30% of its stores. New investors have increased the company's registered capital modestly, signalling both concern and continued faith in the chain’s underlying assets.
Haidilao’s Founder Returns as Cash‑Strapped Youth Sap Growth
Haidilao’s founder Zhang Yong has returned as CEO after four years amid a sharp deterioration in traffic and profitability: first‑half 2025 revenue fell 3.7% and net profit 13.7%, with customer visits down 10 million. The chain’s high labour costs, failed expansion, and mixed results from incubated sub‑brands have left it vulnerable to increasingly price‑sensitive young consumers, forcing a management rethink on efficiency and product strategy.
Haidilao’s Founder Returns as CEO as Customers and Profits Slide
Haidilao’s founder Zhang Yong has resumed the CEO role after a steep decline in customers and profits. The chain faces falling foot traffic, squeezed per-customer spending and costly service standards, prompting a pivot into incubated sub-brands and experiential formats that have yet to scale.
Crisis Lifeline: Xibei Secures A‑Round Backing from Restaurant Veteran Zhang Yong and Ex‑Alibaba Partner Hu Xiaoming as It Seeks a Comeback
Xibei has completed an A‑round capital increase led by investors including Xinrongji founder Zhang Yong and former Alibaba partner Hu Xiaoming, after a reputation crisis and the closure of roughly 100 stores. The funding is intended to stabilise cash flow, bolster supply‑chain capability and potentially preserve a path to a future IPO, but substantial governance and brand repair work remains.