Rat causes Chinese restaurant chain to lose £145 million in value

The rat was found at the hot pot restaurant chain Xiabu Xiabu in Weifeng China

The rat was found at the Xiabu Xiabu restaurant in Weifang. Source SCMPMore

An inspection was immediately undertaken at the restaurant but no trace of rats were found. Over the years, rats falling from the ceiling and climbing up customers trousers at hot pot restaurants around China appear to have done little to diminish Chinese diners' appetite for the simmering soup.

After video footage of the dead rat in the woman's soup circulated on social media, the chain's shares dropped by 12%, losing £145m in value to reach its lowest level since October past year, before regaining value. Video circulated widely on social media in China, to the shock and disgust of viewers, shows the man in the eastern city of Weifang fishing the boiled rodent out of the murky broth with chopsticks. Ma alleges that restaurant staff offered the couple cash for an abortion if they were anxious about the health of the baby after eating the rat soup.

On 11 September, the company's share price hit its lowest level since October previous year. The company's shares recovered somewhat on Wednesday, gaining around three per cent. Traditionally eaten as a family meal in winter, hotpot is a national favourite, and chains selling it are growing in popularity.

Pep Guardiola reveals plans for Barcelona return at end of career
Manchester City boss Pep Guardiola has said he would like to end his coaching career where it began, with Barcelona's reserves. Having spent most of his playing career with the club, Guardiola started out as a coach of Barcelona's B side in 2007.

It was under such circumstances that the rat was dredged from swirling, red-hot broth.

They put out a statement Saturday saying they'd "ruled out" that lack of hygiene caused the rat to end up in the soup - but then deleted it.

A company representative, Catherine Gao, later said that the chain was cooperating with the authorities. Ms Gao said the chain had always taken great care over the quality and safety of its food.

Could Cheslea make a move for Paulo Dybala in January?
He'll go because Juventus want to earn €100-120 million and I think he'll leave in January. Despite his lack of game time, Dybala believes Ronaldo has settled in well.

An official watchdog organisation in Weifang had ordered the Xiabu Xiabu branch to suspend its services for "improvement".

The chain opened in 1998 and was listed on the Hong Kong market in 2014, with 759 shops across China.

People rush to safety ahead of typhoon in the Philippines
But that's not the only measurement that illustrates the storm's huge strength - or the threat it poses to those in its path. The International Federation of Red Cross and Red Crescent Societies said it expects "substantial damage" in the Philippines.

Latest News