The restaurant Industry takes a serious hit – will it ever recover?

Headline Diplomat eJournal: Issue 1
The perilous lenses of COVID-19: The impact on the economy
Tayo Williams, Journalist, Headline Diplomat, LUDCI.eu
COVID-19 needs no introduction. It has disrupted our lives in a dramatic fashion. Lockdown measures all over the world have severely disrupted every business fibre of the economy. It has redefined the way we live and work and ushered in what is now being termed “the new normal”.

In the US, restaurants employ over 13 million people, and contribute $1 trillion. Independent restaurants are the backbone of many communities around the world. BankruptcyData indicates that the restaurant industry had the highest bankruptcy number. Around the World, many of the most successful businesses have sustained fatal blows from the lockdown measures, resulting in severe unemployment and eventually impoverished populace.

Starting with the big names – unexpected bankruptcies have been filed. The operator of Pizza Hut and Wendy’s has filed for Chapter 11 bankruptcy protection following closures of their locations due to the pandemic. NPC international - the largest franchisee of Pizza Hut restaurant in the U.S. with more than 1,225 Pizza Hut loc...