More than half of the restaurants closed by the pandemic won’t reopen: Yelp
Most of the nation’s restaurants that were locked down by the coronavirus pandemic have gone out of business, according to Yelp. Bars are struggling, too.
More than 26,000 restaurants were shut down as of July 10 and 60% of those eateries will stay shuttered, the hospitality site’s annual Economic Average report found. Yelp’s findings are based on information provided to its website.
Some eateries reportedly adapted to new business models including takeout service to make ends meet, but still came up short.
The hospitality industry has been impacted by social issues as well as disease.
Black-owned restaurants have reportedly garnered more interest on Yelp since the killing of George Floyd at the end of May. Searches for such businesses leapt 2,508% between May 25 and July 10.
Yelp also found that bars and clubs were hit hard by the pandemic. According to their study, 5,454 nightlife venues were closed down because of COVID-19 and 2,429 of those businesses – 44% – are out of business permanently.
Adult beverage venus where social distancing might be bouncing back more effective. Yelp reports a 51% increase in consumers making inquiries about wineries and a 24% leap in interest in breweries since June 1.
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