Here Are All The NYC Restaurants That Have Permanently Closed During The Coronavirus Crisis

In a world where hotels and restaurants already face a dismal future, a new study has found that nearly two-thirds of publicly traded restaurants are at risk of bankruptcy as the Covid-19 pandemic batters the industry. The odds of failure are even higher for small companies and restaurants that specialize in dine-in, consulting firm Aaron Allen & Associates said in an analysis. It identified Bloomin’ Brands, Potbelly and Chili’s owner Brinker International Inc. among those at greater risk according to Bloomberg.

"It’s really the full-service model that’s in the biggest danger," principal Aaron Allen said. "Some of those that are in casual dining - a lot of those had already been bleeding cash, bleeding locations."

And while Americans are starting to tentatively venture out again, and restaurants are seeing a modest rebound from rock bottom according to OpenTable data...

... the dining recovery may be slow with unemployment on the rise, cautious spending and also ongoing concerns about health and safety. This leaves the restaurant industry - already upended by broad stay-at-home orders that led to sharp declines in restaurant sales - facing a bleak future.

One of the biggest challenges restaurants face, according to the study, is convincing Americans that it’s safe to dine in. TGI Friday’s is taking unusual steps to lure customers in, including renting party tents to expand dining space to parking lots. "When people are eating outside they feel much safer," CEO Ray Blanchette said in an interview. Some of their stores in southern states already have patios, he said.

The difference between the restaurants that survive and those that don’t may come down to which can make customers feel most comfortable, according to Katherine Miller, vice president of impact at the James Beard Foundation.

"People are going to return to places that they trust first,” she said in an email. “Mostly trust to keep them safe."

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