More than half of businesses that closed during the pandemic won't reopen

More than half of businesses that closed during the pandemic won't reopen

About 60% of businesses that have closed during the coronavirus pandemic will never reopen, and restaurants have suffered the most, according to new data from Yelp. The reviews site has been keeping tabs on closures since March. Businesses can update their status to temporarily or permanently closed on Yelp. As of August 31, nearly 163,700 businesses on Yelp have closed since March 1, the company said, marking a 23% increase from July 10. Of those, about 98,000 say they've shut their doors for good. Of all closed businesses, about 32,100 are restaurants, and close to 19,600, or about 61%, have closed permanently. According to Yelp, some eateries have fared better than others: Pizzerias, delis, food trucks, bakeries and coffee shop have done better overall than Mexican restaurants, breakfast and brunch spots, burger or sandwich shops or eateries that focus on dessert. Restaurant groups have warned that many eateries won't survive the blow delivered by the pandemic. This week, the National Restaurant Association said that 100,000 restaurants have closed either permanently or long-term, adding that the sector is on track to lose $240 billion in sales this year. A number of factors have made it especially difficult for restaurants, which tend to operate on razor-thin margins even in the best of times, to make it through the disruption. First, consumers are spending less on dining out, according to the association. Some people may feel unsafe eating at restaurants at this time. According to a recent study from the US ...
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