Good Lifestyle

Restaurants and fast food restaurants report major financial losses due to coronavirus pandemic. A well-liked rapid casual restaurant known for fast food and an atmosphere similar to the sports bar,TGI Friday, is one of the biggest companies that have been touched the most difficult. PDG Ray Blanchette recently told Bloomberg that theThe restaurant chain will probably close up to 20%, or more than 70, locations throughout the country. The closures of these locations will be permanent.

Even before the pandemic, it seemed to have financial problems. The company and its franchisees have closed more than 30 restaurants in 2019 and finished the last quarter of the year with sales down 11.3% and 9.1%.

In November, a merger with Allegro was negotiated in a transaction of $ 380 million, which would have taken public society in March. With nearly one-third of their revenues from bar sales, the channel planned to reorganize their image as the original singles bar that has become known to its peak. However, the merger and goanc planes have been canceled in the middle of the pandemic.

The coronavirus crisis was a nail in the coffin of many places, with the chain that finds revenue loss of about 80% once closures nationwide were affected. Companies have recovered some of these sales by offering starting and delivery options, but according to Blanchette, companies are still down 50% compared to pre-pandemic times.

In a last ditch effort,TGI Friday tries the new tactic expansion of many restaurants seeks to relieve:Al Fresco Dining. Or rather, they install "party tents" in their parking lots where guests are encouraged to enjoy food and drinks. This option is currently available in New Hampshire places, but while waiting for expansion to other states. "We'll run it for a month and we'll see how it's happening, and if we can do it profitably, we'll get it home," Blanchette said new efforts.