U.S. restaurants on track to lose $240 billion by end of 2020

U.S. restaurants are on track to lose $ 50 billion in April, with losses mounting to an estimated $ 240 billion by the end of 2020, as the coronvirus crisis ravages the industry, according to a National Restaurant Association survey released on Monday.

Two thirds of U.S. restaurant workers – or 8 million people – have been laid off or furloughed as 4 in 10 restaurants are closed, but at least 60% of operators say existing federal relief programs will not help them prevent more layoffs, the survey found.

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Equities, Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe