Beautiful Virgin Islands

Tuesday, Jun 03, 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
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×