It serves as no surprise that thousands of restaurants and bars across the country have been among the hardest-hit businesses during coronavirus quarantines. While some establishments will reopen with limited capacity sooner rather than later, the sector is likely to face widespread decimation, according to industry and health experts.
Economic projections released by leadership of the National Restaurant Association projected the industry would take in $899 billion in sales in 2020 before coronavirus quarantines swept across the country. But most depend on consistent cash flow to keep their doors open and people employed. Since widespread lockdowns began in March, more than 8 million restaurant industry employees have lost their jobs or have been furloughed, according to a survey of 6,500 establishments by the association. That equates to a loss of $80 billion through April, and up to $240 billion by the end of the year.
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