Shiloh
Editor, Senior Moderator
Source: https://financialpost.com/pmn/business-pmn/restaurants-fragile-recovery-is-fizzling-in-the-u-s
Restaurants' Fragile Recovery Is Fizzling in the U.S.
Author of the article: Bloomberg News
Kate Krader, Leslie Patton and Alexandre Tanzi
Publishing date:
Oct 02, 2021 • 1 day ago • 4 minute read •
(Bloomberg) — After a brief glimpse of normalcy this summer, the fragile recovery in the U.S. restaurant industry is sputtering.
Data and interviews with restaurateurs point to a deterioration in finances due to surging costs for everything from salmon to uniforms and labor shortages. A survey found that 51% of small restaurants in the country couldn’t pay their rent in September, up from 40% in July.
Unlike during most of 2020, today’s struggles aren’t visible with the naked eye: Customers are still flocking to eateries, for the most part, in spite of rising prices and lingering fears of the delta coronavirus variant. But the anxiety over mounting expenses is palpable among restaurant owners from New York City to Nashville, Tennessee...
Restaurants' Fragile Recovery Is Fizzling in the U.S.
Author of the article: Bloomberg News
Kate Krader, Leslie Patton and Alexandre Tanzi
Publishing date:
Oct 02, 2021 • 1 day ago • 4 minute read •
(Bloomberg) — After a brief glimpse of normalcy this summer, the fragile recovery in the U.S. restaurant industry is sputtering.
Data and interviews with restaurateurs point to a deterioration in finances due to surging costs for everything from salmon to uniforms and labor shortages. A survey found that 51% of small restaurants in the country couldn’t pay their rent in September, up from 40% in July.
Unlike during most of 2020, today’s struggles aren’t visible with the naked eye: Customers are still flocking to eateries, for the most part, in spite of rising prices and lingering fears of the delta coronavirus variant. But the anxiety over mounting expenses is palpable among restaurant owners from New York City to Nashville, Tennessee...