80% Of NYC Restaurants Couldn’t Afford June Rent

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The majority of restaurant owners around the city did not pay their entire rent in June, with 36% skipping out on it altogether, as the coronavirus pandemic continues to make it harder for eateries to survive, a new survey found according to Commercial Observer.

The nonprofit New York City Hospitality Alliance surveyed 509 restaurateurs around the city and found four out of five didn’t pay the full June rent. Of those, 90% said they paid half or less last month.

“Rent is putting enormous financial pressure on restaurants, bars and clubs after four near-fatal months of economic disaster in which many have already shuttered for good,” said Andrew Rigie, executive director of the NYC Hospitality Alliance.

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Original Source: By Tyler Durden Zerohedge

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