Monday, October 04, 2021 3:36:16 AM
Restaurant Recovery Fried As "Business Conditions Worse Now Than Three Months Ago"
https://www.zerohedge.com/markets/restaurant-recovery-fried-business-conditions-worse-now-three-months-ago
... soaring food inflation, labor shortages, and logistical nightmares that have made some restaurant items nearly impossible to obtain.
....95% of restaurant operators say their restaurant experienced supply delays or shortages of key food or beverage items during the past three months.
...Costs are up – 91% of operators are paying more for food; 84% have higher labor costs; 63% are paying higher occupancy costs, but profitability is down – 85% of operators reported smaller margins than before the pandemic.
A separate study by small business networking site Alignable, conducted between Aug. 28 and Sept. 27, found that most restaurants (51%) were unable to cover their September rent.
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