- According to restaurant-review site Yelp, 60% of US restaurant closures since March 1st (COVID shut-downs) have become permanent (16,000 closures).
- The highest share of restaurant closures were in California (14.4%), Texas (8.5%) and NY (8.4%).
- “States like Hawaii, Nevada, and California, which usually benefit from year-round tourism, have seen the highest closure rates proportional to their total number of businesses”.
- As lockdowns extend, more and more temporary closures are becoming permanent.
- “The virus isn’t going anywhere soon, so businesses will need to be resilient”.
Yelp report: 60% of restaurant closures permanent, more will close
(07/22/2020)