The restaurant business in the US is currently in a state of heightened distress. When the owner Manish Mallick did the maths, the outlook does not look pretty.
With each week, more data emerges to show how the Covid-19 pandemic is permanently reshaping the restaurant industry. The world is currently on track for a radical overhaul of its food-service landscape: Hundreds have filed for bankruptcy over the last three months, according to consulting firm Aaron Allen & Associates, and the situation is poised to keep worsening.
“Based on our estimates, we believe up to 10 per cent of all restaurants globally will disappear, with 20 per cent or more also going through a restructuring process, this is a conservative case, in our view.” – Aaron Allen, Founder.
