The Corona Effect on the Restaurant Industry
The Corona Effect on the Restaurant Industry Restaurants across the country are scrambling to respond as the coronavirus spreads. “With limited cash flows, how do we keep the kitchen fires in the homes of our employees and marginal suppliers burning is a question that does not have an immediate answer. We have sought deferment and concessions from all tax authorities, statutory bodies and financial institutions so that our limited cash flows are deployed towards more humane cause. We have met with some success on this. We are seeking similar relief from our landlords. However, if the COVID-19 spread is not controlled soon and lockdown continues for a while, we may not be left with enough resources to combat the problem despite our genuine and honest intent. However, even if business picks up, the damage could be long-lasting. “The present situation is all about surviving this pandemic with the least amount of casualties. As restaurateurs, we are looking at how to give ...