Yelp reveals how many restaurants have quietly closed for good
Data are starting to pay, and it does not seem good for the restaurant industry.
It is no longer secret that the restaurant industry has been completely devastated by the coronavirus pandemic and the resulting economic closure. But the question remains:Exactly how bad is it there For your favorite restaurants? Well, according to a new report of the user generated by the user Yelp Yelp, it may be worse than you have already thought.
The site has recently reported that more than24,000 restaurants across the country have closed since March 1st.
More than half of these closures seem to be permanent.
Yelp recently released the second quarterreport Says that many sectors of activity have had trouble during Covid-19, but none of them had worse than the restaurants sector:
In March, the restaurants had the largest number of business closures, compared to other industries and continued to close at high rates. Among the companies that have been closed, 17% are restaurants and 53% of these restaurant closures are indicated as permanent on Yelp. Restaurants are working on thin margins and can sometimes take months or even years to break even, resulting in this higher rate of permanent closures.
Restaurant closures are not simply limited to smaller and operation independently. In the first trimester of this year, onlyFour national channels have reserved a profit, which was largely due to their ability to deliver foods and serve customers via the passage.
At least one point of view, Yelp's data are actually good news. Last month, areport Funded by the independent coalition of the restaurant predicted that nearly 85% of all independent restaurants would close this year without federal intervention. If the closures have reached this top, 425,000 restaurants would take place thoroughly.
Meanwhile, areport The National Restaurant Association in March stated that 3% of all American restaurants (about 30,000) were already closed.
In a tiny silver lining eclot, the Yelp also reported that interest in take-out and delivery services is unsurprising - exploding, up 148% compared to a pre-Covid-19 world.
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