U.S. restaurants on track to lose $240 billion by end of 2020: survey

U.S. restaurants on track to lose $240 billion by end of 2020: survey

© Reuters. Empty Chipotle restaurant in financial district in lower Manhattan during outbreak of coronavirus disease (COVID-19) in New York

(Reuters) – U.S. restaurants are on track to lose $50 billion in April, with losses mounting to an estimated $240 billion by the end of 2020, as the coronvirus crisis ravages the industry, according to a National Restaurant Association survey released on Monday.

Two thirds of U.S. restaurant workers – or 8 million people – have been laid off or furloughed as 4 in 10 restaurants are closed, but at least 60% of operators say existing federal relief programs will not help them prevent more layoffs, the survey found.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Latest Category Posts