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Maryland Group Says 35% Or 40% Of Restaurants May Close For Good

Discussion in 'News - Breaking News & Political Forum' started by Queenie, Jul 23, 2020.

  1. Queenie

    Queenie Well-Known Member

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    If you are a restaurant goer things look bleak. I rarely eat out, mostly on vacations. I'm assuming that those who stay in business will be the ones with lower quality food, which are the places I try to avoid eating at.
    A lot more people will not be going back to work or may have something just for now.

    I saw an article a few days ago about most buffets will be going out of business, due to the pandemic. I will be permanently avoiding them. I already had cut way back on them in the last couple of years, due to concerns of people spreading germs.

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    https://wtop.com/coronavirus/2020/07/maryland-group-says-35-or-40-of-restaurants-may-close-for-good/

    Maryland group says 35% or 40% of restaurants may close for good


    Dire predictions for the restaurant industry are getting even worse as the coronavirus pandemic continues to limit business by keeping people away from gathering together indoors. Initially, the Restaurant Association of Maryland predicted that 25% of restaurants in the state would need to close for good. Now, according to the group’s president Marshall Weston, that number is likely to be around 35% or even 40%. “It becomes increasingly difficult for restaurants to generate the revenue they need in order to remain open,” Weston said. “Restaurants are built on traffic and volume in order to survive and those things just aren’t happening right now.” Making matters worse, Weston said the extreme heat wave and heavy storms that the D.C. region has seen in recent days have made outdoor dining difficult, if not impossible. “We are running out of money as an industry,” said Weston.

    In Virginia, industry experts said they expect at least 20% of restaurants across the state to close permanently. “We’ve seen a lot of closures in all parts of the state,” said Eric Terry, president of the Virginia Restaurant Lodging and Travel Association. “It’s very expensive to do takeout and delivery, so it’s very hard to make the numbers work.” Terry said restaurants in the more commercial areas such as Crystal City are being hit hardest right now, while the more residential areas are doing a bit better because they rely less on tourism and business travelers.

    The National Restaurant Association sent a plan to Congress dubbed the “Blueprint for Restaurant Revival,” calling for a $120 billion restaurant recovery fund, more money through the federal Paycheck Protection Program and a long-term loan program that would provide at least six months of operating costs. “We are hopeful that Congress will act again to provide a lifeline for restaurants to survive this pandemic,” Weston said. The industry’s blueprint plan also calls for “temporary and targeted liability protections” to stop businesses from facing “fraudulent or frivolous lawsuits” over exposure to the coronavirus. “The financial risk of being dragged into court is leading many restaurants to consider shutting down, or diverting resources away from rehiring staff or expanding service options for customers,” according to the plan.
     
  2. Transformer

    Transformer Well-Known Member

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    this impacts a lot of jobs for minorities.
     
  3. SoopremeBeing

    SoopremeBeing Well-Known Member

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    I’m curious as to which ones are at the most risk. Many Spots where I live have hopped on the Door Dash train.
     
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  4. fula97

    fula97 Well-Known Member

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    DoorDash ubereats etc is not a lifeline for restaurants long term. The fees eat into a lot hence why you see higher pricing when you order via the apps to try and cover some of the costs otherwise it eats into all of the profit.

    All restaurants are at risk. You can't be successful if you are operating at 50-70% of output than previous levels. Depends on rents, overhead, if you can sell alcohol to go as well. Some are quasi pantries selling produce, meal kits, produce boxes etc so they can continue to buy wholesale but sell product
     
  5. OhTall1

    OhTall1 Well-Known Member

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    Yeah, those services are killing restaurants. There was a viral image of one restaurant's costs for all of the commissions they had to pay in March, where the only option was delivery or carry out so there was no dine in revenue to offset the costs.

    [​IMG]
     
  6. fula97

    fula97 Well-Known Member

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    Yup and add in higher food costs. It's a negative and unless you can do some seated dining you are def not paying yourself and barely an employee or two. If you have a favorite restaurant call and ask them what they want you to do.

    If they have their own app order from the app or their website directly they are paying much less in fees. This goes for any type of restaurant. Chains included. The majority of chain are independently owned and not owned by corporate
     
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  7. SoopremeBeing

    SoopremeBeing Well-Known Member

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    Oh wow. That really sucks.
     
  8. nysister

    nysister Well-Known Member

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    My favorite Mexican place, closed for about 3 months. (I was afraid it was permanent) but recently opened back up again.

    Restaurants run on slim margins in the first place. I feel for the minority and especially Black owned places,since we usually have less access to funds.
     
  9. Kalia1

    Kalia1 Well-Known Member

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    Yesterday I went to a favorite pizza shop and pulled up to see a For Lease sign on the door. It was disappointing. I’m in Maryland and hope that the prediction doesn’t ring true.
     
  10. vevster

    vevster Well-Known Member

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    That’s sad and surprising considering that most people order pizza to go.
     
    Last edited: Aug 13, 2020 at 2:45 PM
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  11. Everything Zen

    Everything Zen Well-Known Member

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    While we’re staying at home, we’re also making a point to order out a few times a month to support local restaurants- really trying to focus on mom and pops. We went to order from Boston Market the other day only to find out that the one near us was permanently closed. :nono:
     
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  12. MizAvalon

    MizAvalon Well-Known Member

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    This saddens me as I love to eat out at smaller, independent restaurants. Of course, those will be the first to go.
     
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