Source: Restaurant Business
On Wednesday, the National Restaurant Association called on President Trump and congressional leaders to provide immediate relief in the wake of government-mandated operational changes. The large-scale closures and restrictions on gatherings have created an economic hardship that will ripple through every community in this country.
Early economic forecasts reveal the industry will sustain at least a $225 billion loss and be forced to eliminate between 5 million and 7 million jobs over the next three months; however, the White House and others are projecting a potentially longer period for reduced operations. In a letter to the Administration and Congress, the National Restaurant Association outlined several options that can provide relief and aid recovery for the nation’s 1 million restaurants and 15.6 million employees.
“We are revising our business model to provide meals in different ways, takeout, delivery, safety-enhanced dine-in, but the majority of our restaurants do not have this capability today. As the restrictions continue, we are facing economic headwinds that will lead many restaurants to shut down operations, lay off workers, and end service in our communities,” said Executive Vice President of Public Affairs Sean Kennedy. “Taken together, these proposals will ensure that restaurants have increased liquidity and access to necessary financing to help the industry and its employees recover.”
Click here to read the Association’s letter.
To learn more, visit Restaurant.org/covid19.