Restaurants are fucked - unless they get a bailout

In the United States, there are more than a million, according to the National Restaurant Association; together, they provide 15.6 million jobs. The number of those that are considered middle-class—which pay between $45,000 and $75,000 a year—has grown 84% between 2010 and 2018, a rate three times higher than the overall economy. In other parts of ... See more

Top Chef judge Tom Colicchio called the illusion of restaurant prosperity “smoke and mirrors” in a recent interview with The Daily Beast, and predicted that, as a result of the underlying precariousness, only 25% of restaurants in the U.S. will survive this crisis. He himself announced on March 14 that he was closing all of his restaurants in New Y... See more

What needs to happen next for restaurants? We may be headed for the worst-case scenario. Even with more government intervention,2