Restaurant Business

Partially Forgivable Microloans Available as 77% of Paycheck Protection Program Depleted

As of the close of business on May 28, 2020, the U.S. Small Business Administration (SBA) has approved 4,460,265 Paycheck Protection Program (PPP) loans from 5512 lenders totaling $510,536,339,105. That…

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Restaurant Owners Gain Bargaining Power to Limit Losses

There is a silver lining to the current crisis for restaurant owners. After an uninterrupted decade of rising costs and competition, COVID-19 has granted restaurant owners renewed power at the…

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Overdue Rent and Mortgage Problems for Restaurant Owners

Second to labor, restaurant owners’ next biggest expense is their rent or mortgage payment. Since COVID-19 lockdowns began in March, many restaurant owners have furloughed their employees which accomplished the…

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Restaurant Industry Lobbyists Meet With President Trump, Earn Congressional $120B Proposal

Two of the main restaurant lobbies achieved a major milestone this week in Washington DC, earning a $120 billion funding proposal on May 20, the day after meeting in-person with…

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Florida Continues Reopening Restaurants, Miami to Open Wednesday

Florida is the nation’s eighth most densely populated state, but one of the earliest to lift COVID-19 restaurant restrictions. New Jersey and Delaware remain in lockdown, as well as densely…

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Current Statistics for the Restaurant Industry

Before the pandemic, restaurants employed approximately 10% of the entire U.S. workforce. As of today, employment in the restaurant industry has more than halved.  Prior to the coronavirus pandemic, there…

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Unprecedented Changes for Michelin Star Restaurants

Goodbye Gotham Bar & Grill, hello Noma burger bar. Worldwide, over 85% of Michelin-starred restaurants are currently closed. Some closures are permanent, such as New York City’s Gotham Bar &…

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Restaurants Keep Drive-Thru and Takeout, Hesitate to Open Dining Rooms

Approximately 1.5 million U.S. residents have been diagnosed with COVID-19, including 90,000 people who have lost their lives. Most of the infections are caused by respiratory droplets whose probability of…

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Forward Expectations for Restaurant Employment

Over 36 million Americans have lost their jobs since February. According to April data from the U.S. Bureau of Labor Statistics, the unemployment rate was 14.7% two weeks ago. This…

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Polls Show Optimism Among Returning Restaurant Patrons

How many consumers plan to return to dine-in when restaurants reopen? According to Long Island Restaurant News, an auspicious 67%. So begins the procession of polls of innumerable variety about…

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