Xibei rumored to be on the verge of complete collapse Just a year ago, Xibei was at its peak, preparing for a Hong Kong IPO with a goal of becoming a billion-dollar listed company. Then came Lao Luo’s public criticism, and Jia Guolong lit the fuse himself, blowing everything up. Now, Xibei might not survive the next few months. The founder has been forced to give up his shares and take on the majority of the debt. Over 10,000 employees have already been laid off, and more than 200 stores have closed. - On September 10, 2025, Luo Yonghao posted on Weibo, saying that almost all of Xibei’s dishes were pre-made meals, and they were still so expensive. - On September 11, Jia Guolong responded, claiming that Xibei didn’t serve a single pre-made dish, announced that all kitchen areas in their stores nationwide would be open for public tours, and vowed to sue. The tours turned into self-exposure. Photos from the kitchen freezers showed frozen broccoli with a 24-month shelf life. - By November 2025, total revenue was 265 million yuan, less than half of the same period in previous years. - From September 2025 to March 2026, cumulative losses exceeded 600 million yuan. - In Q1 2026, 102 stores were shut down, accounting for about 30% of the total at the time, affecting around 4,000 employees. Whether the rumors are true or not, Xibei has undeniably gone from being a restaurant giant to a small fry. How many people still eat at Xibei these days?