marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
restaurants
04/07/2023
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By Ethan Huff
New post-pandemic dining restrictions in some cities charge customers hundreds of dollars just to get seated at a table
A lot has changed ever since the Wuhan coronavirus (Covid-19) was forced on the world, including in the food service industry. Some restaurants in major cities like Chicago have begun imposing minimum purchase requirements on their patrons, or charging cancelation fees for reservations. Mandatory minimums are gradually becoming the norm in some areas, especially at […]
04/04/2023
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By Ramon Tomey
Restaurant industry collapsing across the US, with several popular chains permanently CLOSING DOWN numerous locations
Several U.S. restaurant chains are closing down different locations across the country to streamline operations and cut costs – a consequence of the Wuhan coronavirus (COVID-19) pandemic and labor shortages. A report by the Daily Mail named several chains that downsized their operations, including several familiar brands. Applebee’s Casual dining chain Applebee’s has closed around […]
06/23/2022
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By Belle Carter
Barclays research reveals that Americans are spending LESS on services
Data from the recent Barclays research revealed that more Americans are beginning to resist spending on services, such as eating at restaurants and booking flights and accommodations. “All through 2022, the narrative has been that as [Wuhan coronavirus] COVID-19 faded, households would ramp up spending on services. This indeed has been true for much of […]
01/27/2022
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By Roy Green
Local restaurants still struggling with supply chain issues, labor shortages brought about by disastrous pandemic policies
From Tulsa, Oklahoma, to Pike Creek, Delaware, closed restaurants with for sale/lease signs and foreclosed markings, and those which are open but with empty tables have become a familiar sight. After more than two years of the Wuhan coronavirus (COVID-19) ravaging economies worldwide, many local restaurants all over the United States are still fighting for […]
10/16/2020
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By Franz Walker
Coronavirus threatening jobs as hospitality industry turns to automation
Jobs in the hospitality industry will be the hardest hit as businesses increasingly turn to automation in the face of the Wuhan coronavirus (COVID-19) pandemic. The prediction came from a study by the Royal Society for Arts, Manufactures and Commerce (RSA). Researchers from the London-based think tank found that the ongoing pandemic is increasing the demand […]
08/30/2020
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By Zoey Sky
Coronavirus lockdowns are “overly blunt and costly” … economists and health experts point to a more effective way
As the coronavirus (COVID-19) pandemic spread like wildfire throughout America, the country was forced to implement something it has never tried before: Blanket business shutdowns. However, this tactic has resulted in a deep recession. While the pandemic spreads, economists and health experts suggest that it may be time to try a different and more effective plan. […]
08/11/2020
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By Cassie B.
Most New York City restaurants won’t be able to pay their July rent, survey finds
The economic effects of the coronavirus crisis are being felt deeply in the New York City restaurant industry. July was just the latest in a string of disappointing months for the city’s restaurants, bars and clubs, and a new survey has found that most of these establishments will be unable to pay their rent for […]
05/08/2020
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By Franz Walker
Sysco warns of hard times ahead as coronavirus decimates restaurant industry
Sysco Corporation, America’s largest foodservice distributor, warned that coronavirus-related shutdowns of restaurants are leaving the industry in the worst state it has ever been in. The warning comes after the company reported a 6.5 percent decline in sales in its third quarter, which ended March 28 — one of its most significant quarterly reductions since 2009. […]
04/23/2020
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By Ralph Flores
New CARES Act only cares about big corporations – local restaurants walk away with NOTHING
The coronavirus (COVID-19) may have currently infected over 830,000 Americans and caused 45,638 deaths, but that won’t stop corporations from making sure they come out on top – even if it means taking money meant for smaller businesses. Case in point: Big restaurant chains like Shake Shack, Potbelly and Ruth’s Chris Steak House walk away with tens […]
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