Restaurants generate some $880 Billion per year in revenue in the US and 90% of that revenue gets paid out directly to restaurant employees, suppliers, and for rent. The economic activity generated by restaurants account for 4% of the nation’s GDP. As the Us’s second-biggest employer, after government, the restaurant industry is a cornerstone of the economy. However, unlike other ‘too big to fail’ industries, there is no effective lobby at the federal level.
The group is petitioning the US Congress for a bailout, that would save restaurants, the jobs and the communities they support. The letter is requesting signatures, currently with 10,000 and calls for action in the following ways:
To fix the Flaws Within the Paycheck Protection Program
To create a Restaurant Stabilization Fund
To create New Tax Rebates for Independent Restaurants to Survive Post-Crisis
To require Business Interruption Insurance to Cover COVID-19
As Scotland's restaurants prepare to reopen with restrictions, the country's foremost chef, Tom Kitchin, says 'enough is enough' and demands that restaurants be allowed to open fully. Here's the full story.
The photo of Camilla Moccia, bent over in despair over the closure of her trattoria, has gone viral in Italy as a symbol of the suffering faced by those across the hospitality industry. Here she speaks to Fine Dining Lovers about the photo and her plight.
With a $1.9 trillion stimulus package winning final approval in Congress, what are the implications for the restaurant industry going forward? Will the Biden-Harris administration help the sector to rebound in the wake of the pandemic, or will restaurants continue to struggle? Andrew Friedman investigates.