Oct 1st 2020 – It’s clear that the pandemic will continue to affect lives around the world, even in regions that have regained some semblance of control over new cases. The long-term effects of the pandemic will continue to shadow areas of the economic landscape.

The restaurant industry has been particularly hard hit. CHD Expert estimates a decline in revenue across the board for American restaurants during the pandemic. In total between January and September, eating and drinking outlet places were down with 45,000+ foodservice outlets.

Chefs, general managers, owners, bartenders and diners have all attempted to raise their voices to get aid for the hard-hit sector. But those cries have been drowned out by the sound of businesses boarding up their eateries, shuttering service for good.

What do we see in September 2020? 

• 9,607 permanent closures
• 20% of the ones closing their doors are QSR / LSR
• 19% of the closures happen in California

The impact of COVID-19 and the government-mandated restaurant closures have seen many operators close their doors for good. The following list is current as of October 1st, 2020.

What do we see -> almost 80% is dominated by the below 5 market segments:

• FSR – Casual Dining – 27%
• LSR – Fast Food – 19%
• LSR – Coffee Shops – 13%
• FSR – Cafe Restaurants – 11%
• LSR – Fast Casual – 7%

The main 3 provinces with the highest number of permanent closures are:

• Ontario – 43%
• Quebec – 18%
• British Columbia – 15%

Uncertainty Is the Only Certainty