Despite efforts to prop it up, and tentative reopened local economies, the restaurant industry is suffering a historic contraction. Even if the health crisis ebbs in the coming months, experts say the closure of restaurants will not, putting a huge chunk of empty space on the market.
Of U.S. restaurants that were open on March 1, nearly 24,000 have since closed, according to a survey published by Yelp in late June, with over half (53%) of that total closing permanently. That is a higher percentage of permanent closures than other kinds of retail (35%), beauty shops (24%) or…
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