10,000 US restaurants will close forever without a new stimulus package

[Jacob Siegal]

• The National Restaurant Association says 10,000 more restaurants will close down for good if the US government doesn't pass another stimulus bill soon.
• According to the group, 17% of all restaurants in the US -- 110,000 -- have already closed.
• The group backs the $908 billion bipartisan stimulus package that was proposed last week.

If you needed any more convincing that the people of the United States desperately need financial support from the federal government, this letter to Congress from the National Restaurant Association might do the trick. According to the group, 10,000 restaurants will close for good in the next three months without a new stimulus package. That'll be in addition to the 110,000 restaurants that have already shuttered as a result of the pandemic.

The group also shared the findings of its latest survey of 6,000 restaurant operators and 250 supply chain businesses through the second half of November. The survey revealed that 87% of full-service restaurants have seen an average 36% drop in sales revenue, while 83% expect sales to be even worse in the next three months.

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10,000 US restaurants will close forever without a new stimulus package originally appeared on BGR.com on Tue, 8 Dec 2020 at 18:52:27 EDT. Please see our terms for use of feeds.

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