A shocking 53% of restaurants to remain closed in the wake of Covid-19
Will the hospitality industry ever recover?
The impact the pandemic has had on humanity cannot be exaggerated. Millions have died and the way we live may have changed forever.
As the world tentatively tries to regain some semblance of normality, the scale of the impact in other areas is becoming clear.
The hospitality industry, collectively, did its best to adapt to a constantly changing landscape of new regulations and restrictions. Some have managed to maintain enough business to keep them ticking over, giving them the best shot at survival.
Others have not been so fortunate. Those unable to offer a take away or delivery service have been left behind, with no business coming in for around 3 months now, with overheads remaining in place.
Sadly, this means a lot of establishments face permanent closure.
Data from Yelp's Local Economic Report, which covers the whole of the US, shows that 53% of restaurants registered on the platform have posted permanent closure since lockdown was brought in. A large proportion of those posted in the month of March, suggesting they knew they had no chance of remaining afloat, despite having no knowledge of how events would unfold.
The more telling statistic comes from expanding the data to look at all businesses registered on the platform, which shows that 41% have closed. This is devastating for the business owners, but also for the staff that kept the places running who now face a difficult job hunt in an all but barren economy.
How you can help
You can help your local businesses and restaurants by buying from them as often as you can while they are offering service and, until then, try buying vouchers on their website to be used at a later date.