Over 42,500 Restaurants Have Permanently Closed Due to COVID

1 Sept 2020 – Over 42,500 Restaurants Have Permanently Closed Due to COVID in the last 3 months in 8 EU countries

Many cities have been experiencing a growing restaurant scene over the last few years. Lots of restaurants and concepts started to pop-up the ground, and it has been considered as the “golden age” for restaurants.

For now, that restaurant scene is virtually non-existent, and it looks nothing like it did six months ago because of COVID-19. While some restaurants are trying to keep their doors open with take-out, delivery, outdoor seating… many have closed their doors, for now. CHD Expert looked at 8 major markets in Europe to understand the market dynamics in the market for the last 3 months (June – July – August).

What do we see:

Table 1 – Closures June – July – August 2020

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Italy, Spain & Germany have the highest number of permanent closures with over 30.000 outlets that closed of a result of COVID-19.
The top three cities with the sharpest increase in permanent closures in June, July and August were Rome, Madrid and London (see table 2).
Full Service Restaurants endured the highest closure rate in most of the countries. Only in UK the Quick Service Restaurants had the highest closures (see table 3).
Within the FSR, we we see that mainly the 2120 – FSR, Traditional Restaurants, Casual Dining is suffering the most. Also the Bakeries in DE – BE and NL are having a hard time (see table 4).
Better results are seen in countries were the government has been heavily supporting small companies for example in DK. Also in UK they reopened quickly so the economic recovery is slightly better,