The restaurant industry is in collapse. More specifically, small restaurants have been crushed by the virus-induced recession. We’ve noted at least half of the restaurant closures on Yelp are now permanent.
The National Restaurant Association has determined that at least 15% of all restaurants will close. This number could be a lot higher at the end of the year as Goldman Sachs reports the economic recovery is now reversing.
Small restaurant operators, who fear a double-dip recession, have now resorted to liquidating their eateries on Facebook Marketplace.
A simple search of “restaurant” on Facebook Marketplace, within 80 miles of Trenton, New Jersey, comes up with dozens and dozens and dozens of mom and pop eateries that are trying to get out of the game.
Another search on the social media marketplace for “restaurant” around the Baltimore–Washington metropolitan area shows even more small business operators are calling it quits.
Here’s Miami, Florida…
Here’s Denver.
Small restaurant owners in San Diego, California, are trying to sell their eateries on Facebook Marketplace.
Here’s the Bay Area in California.
Elsewhere in California…
The volume of small restaurants trying to liquidate on Facebook Marketplace is so massive that we weren’t able to show the complete disaster unfolding across America.
To sum up, there’s no V-shaped recovery this year – the administration has no plan to revive economic growth except for bailing out Wall Street that has angered Tea Party Republicans.
The country is imploding from within – all the Trump administration cares about is optics ahead of the election and the stock market.
From Dying Restaurants Are Rushing To Liquidate Assets On Facebook Marketplace By Tyler Durden