Yelp report: 60% of restaurant closures permanent, more will close

Business Insider (07/22/2020)
  • 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”.