Well now since Cuomo and de Blasio have successfully destroyed New York City with all their idiotic lockdowns and so called ‘follow the science’ rules and regulations it will be interesting to see if they even survive. So far, it’s certainly not looking good.
Last Updated Feb 18th, 2021 at 5:13 pmThe New York City Hospitality Alliance recently revealed the extraordinary financial complications facing the city’s restaurants after months of economic lockdowns. According to a recent report from the group, 92% of New York City eateries were unable to make their rent payments in December.
That number was 80% in June of 2020.
Facing financial stress of their own, landlords have not been able to offer much flexibility to the struggling industry. The study found that only 40% have reduced rent expenses for restaurants and bars, and only 36% have offered rent deferrals.
Governor Andrew Cuomo and New York City Mayor Bill de Blasio have allowed indoor dining to resume only at 25% capacity, a number that restaurant owners say is far too small for them to remain solvent.
“We’re nearly a year into the public health and economic crisis that has decimated New York City’s restaurants, bars, and nightlife venues,” Andrew Rigie, the executive director of the Hospitality Alliance, said in a statement. “While the reopening of highly regulated indoor dining is welcome news, we need to safely increase occupancy to 50% as soon as possible, and we urgently need robust and comprehensive financial relief from the federal government.”
The Alliance also called on the federal government to include $25 billion earmarked for the restaurant industry in the emergency relief plan being debated in D.C.
Article Source: Only 10% of New York City restaurants can pay their bills | Disrn