June 17, 2020 — The COVID-19 pandemic could force a staggering 85% of independent U.S. restaurants to shutter by the end of the year, according to a new report commissioned by recently formed trade group the Independent Restaurant Coalition (IRC).
Conducted by Compass Lexecon, a Chicago-based consulting firm, the report predicts a grim future for roughly 500,000 Main Street restaurants unless a more robust financial assistance program is established.
According to IRC, privately owned restaurants with fewer than 20 establishments — including fine dining spots, neighborhood joints, pizza parlors, bistros and food trucks, among other types of businesses — make up 76% of the industry and directly employ 11 million people across the country.