Beautiful Virgin Islands

Wednesday, Jul 23, 2025

Report: U.S. Restaurants Face $80 Billion Revenue Loss by Month’s End

Report: U.S. Restaurants Face $80 Billion Revenue Loss by Month’s End

The National Restaurant Association has released the results of its research on the U.S. restaurant industry in the wake of the coronavirus and the shuttering of the more than one million restaurants usually operating in the United States. The results show billions in lost revenue:
"Restaurants on track to lose $80 billion in sales by end of April; 8 million employees out of work; Coronavirus continues to devastate the industry; sales losses could total up to $240 billion by year-end."

The research - a survey of more than 6,500 restaurant operators conducted between April 10 and April 16 - illustrates the damage to the industry since the outbreak began. More than any other industry in the United States, restaurants have experienced the most significant sales and job losses since the coronavirus outbreak began.

Other highlights of the research include:


* More than eight million restaurant employees have been laid off or furloughed since the beginning of the coronavirus outbreak

* Two out of three restaurant employees have lost their jobs

* The restaurant industry expects to lose $80 billion in sales by the end of April and up to $240 billion by the end of 2020

* Four in ten restaurants are closed

* 61 percent of operators say existing federal relief won’t prevent more restaurant layoffs

The association is hoping its research can be used to lobby Congress to enact a “Blueprint for Recovery” “to provide targeted relief for the restaurant industry, the nation’s second largest private sector employer with sales that exceed agriculture, airlines, railroads, ground transportation ,and spectator sports combined.”

The blueprint asked Congress to authorize and appropriate a Temporary Emergency $240 Billion Restaurant and Foodservice Industry Recovery Fund (“RFIRF”).

The Blueprint states, in part:

"Available on a quarterly basis, the grants would be requested by restaurants through a new portal at the Internal Revenue Service (“IRS”) where restaurant owners would apply for up to, but no more than, the prior year-on-years quarterly gross revenue, subject to terms and conditions on the use of these funds, through the end of 2020. The size of the $240 billion RFIRF is based off already-accrued and estimated losses industry-wide through the end of 2020. The grants shall be used broadly for payroll expenses and operating expenses, e.g., rent, utilities, ongoing debt obligations, business insurance premiums, vendor payments, etc..; and for reopening expenses, including stock, inventory, sanitation equipment, health and safety compliance, etc.."

The blueprint also calls for fixing “structural Issues of the Paycheck Protection Program (PPP),” specifically so that the program works with the “realities” of the restaurant industry.

It also calls for “federal relief for employer’s share of unemployment insurance” and to “increase funding for economic injury disaster loans.”

The association also supports legislation sponsored by Rep. Jimmy Panetta (D-CA) and Sen. Chris Murphy (D-CT) to expand SNAP food assistance to include restaurants during the pandemic.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
×