NEW YORK - According to a new survey, roughly 75% of restaurants in New York City lost at least half of their business during 2020 and 96% percent of the city's restaurants saw their sales decline by at least a quarter in 2020 as compared to 2019.
The survey, done by the NYC Hospitality Alliance, paints a still-bleak picture for restaurants throughout New York City.
"The survival of our restaurants and bars is essential to the economic recovery of New York City, so the continued number and nature of these struggling small businesses is alarming" said Andrew Rigie, executive director of the NYC Hospitality Alliance. "The federal financial relief for the restaurant industry championed by Senate Majority Leader Schumer and signed by President Biden was a crucial lifeline for thousands of our restaurants, but without a continuous and concerted effort at all levels of government to revive the industry, the chances of recovery for these businesses and the city will only diminish."
Respondents to the survey agreed that the future for many restaurants in the city is still in jeopardy. Forty-six percent of respondents said that their businesses will not survive without financial aid and ongoing policies to protect small business owners.
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