The National Restaurant Association says that 110,000 US restaurants have permanently closed their doors during the pandemic.
They says that works out to about 17% of all restaurants in the country or about 1 out of every six.
In addition, they say thirty-seven percent of operators said it is unlikely their restaurant will still be in business six months from now.
Sean Kennedy, executive vice president for public affairs at the association says “what these findings make clear is that more than 500,000 restaurants of every business type—franchise, chain, and independent—are in an economic free fall.” He adds that with states like California effectively going on another lockdown, these struggling restaurants have likely hit their breaking point.
On Monday, we shared the story of L.A. bar owner Angela Marsden who says she spent $80,000 setting up an outdoor dining area only to have it shut down by local politicians. And now, she’s out of money with no way to generate more income.
Marsden’s story is common for many of these small businesses and it will only get worse as politicians impose more lockdowns, curfews and restrictions.