One in 4 restaurants won't re-open after pandemic, study says

We are going to lose some restaurants and quite a few other small businesses around here in the next three months. I know the owners of some of these businesses, they do not want to take out loans, they are getting old already. They will just shut down and keep the business location for storage or sell everything off in auctions to clean their hands of responsibility. Nobody is going to buy those old restaurants, there will be open store fronts all over the place, nobody is going to want to take a risk and right now, people have got used to buying from Amazon....there goes a lot of local jobs down the tube.

a reply to: Arnie123

Crackerbarrel, Beijing Express, Golden Wok, Panda Express, Mcds, Burger King, Little Italys, Tandoor palace, Spice Indian, Hooters, Ihop, Dennys, Jeruselum Grill, Outback steakhouse, Chipotle, all these places, mom and pops, are all open and PACKED.

Ummmmm, I might pay money to eat at 2 of those.

Looks like the majority are chains. That’s not my idea of good food.

a reply to: DanDanDat

This means more large chains that offer crappy food and crappy service and less mom and pops that serve specialty items with great customer services.

The rich get richer.

Who is going to have the money to take the risk? And will anyone really want to take that risk when they know the government can shut them down anytime this virus or a new virus comes along?

I agree with the small business owner who said he would rather die from Coronavirus than start over at a 9-5. Many of these people put their entire lives into the business that they opponed only to see it ripped away from them.

The amount of depression, alcoholism, drug use and possible suicides from this may very well prove to be more devastating than death from the Wuhan Virus.

a reply to: Arnie123

The economy is collapsing for millions. It seems like all you can see is your own specific situation.

Probably need to open your eyes and look outside of your box if you think the economy collapsing for millions is not a fact.

a reply to: KKLOCO

They started really re-opening here this past week.

Apparently, customers felt fairly comfortable going to those places that had outdoor dining, but not as much with indoor seating, what there was because of the rules.

After golf today I went into town to grab breakfast at a restaurant I have been going to for at least 10 years. The owner is a Swiss guy and he said since opening two weeks ago he has been losing money every day. No customers. The restaurant is one of the better open air places with good food. I went two days ago and today and I was the only customer which was unusual as there were always at least 10 or 15 people there for breakfast before the lock down. Looking around our midsize town there are many small business that have not reopened... I suppose that is better than paying a staff that has nothing to do ?

No war, not great recession (although it is coming IMO) just a bug (OK OK zi Virus) that basically shut the world down...who would have thought ?

a reply to: 727Sky

the numbers vary from place to place - but before loosing your crap over " 1 in 4 eateries will not re-open " google the failrate of eateries in your area - the numbers that fold in the first year is quite high

originally posted by: ignorant_ape
a reply to: 727Sky

the numbers vary from place to place - but before loosing your crap over " 1 in 4 eateries will not re-open " google the failrate of eateries in your area - the numbers that fold in the first year is quite high

I am not losing my crap over anything unless I want to take a dump. Many of these places I have been going to for several years and know the owners both locals and foreign expat devils. To say everything is peachy Keen is very disingenuous and indicates someone who is unable to open their eyes to the world around them..

Asia is different than many western countries as people can live and work like dogs for almost nothing and for the most part (being Buddhist) they accept their lot in life.

Business rentals for property and finance charges do not stop because of a virus... One of the golf courses I play at pays 75,000 (less than 3000 usa dollars but still allot around here) a month in taxes and finance charges and that is before any grass is mowed, electric and utilities, or staff is payed. One more month in lock down and it was bankruptcy for them just as it is and is going to be for many major airlines. As a supply is limited the price goes up and it will take quite a bit of "go up" before businesses even come close to being made whole again.....IMO

I am not a bleeding heart liberal by any stretch but to say people living in misery does not bother me would be a lie. I wish I had a magic wan and could fix the world but even if I did there would still be those bitching at what I have done .. so I suppose unless the tooth fairy gives me her wan it is what it is.