— Alastair Williamson (@StockBoardAsset) July 3, 2020
— Teddy Vallee (@TeddyVallee) July 2, 2020
A $10 Trillion Rally Hinges on Earnings Nobody Has a Clue About
— Mo Hossain (@MoHossain) July 5, 2020
— Invariant Perspective (@InvariantPersp1) July 6, 2020
Goldman Sachs lowers its estimate for 3rd quarter growth because US consumers are shying away from more spending as the coronavirus outbreak gets worse. t.co/gxtBPp2r1D via @markets @economics @simonjkennedy
— Steve Matthews (@SteveMatthews12) July 5, 2020
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
“Pre-pandemic, it was incredibly difficult to run a successful restaurant,” added Rigie. “These conditions, the longer that it goes on, is going to make it more and more challenging for small businesses to ever recover. The vast majority of small businesses will not be able to pay back months of missed rent.”