It is reported that 15,770 of the 26,160 restaurants on the Yelp platform in the United States have closed permanently after the world-shattering COVID-19 pandemic.
Many businesses are struggling with financial difficulties, with restaurants closures through the quarantine process in March following the COVID-19 pandemic. 15,770 of the 26,160 restaurants on the Yelp platform, the global food and beverage platform, closed permanently as a result of this challenging process. California has the highest closing rate, followed by Texas and New York, Yelp reports. Yelp expects there to be an increase in the number of permanent closures of restaurants that will go through the quarantine process again, with the second wave coming.
“Unfortunately, we do expect closures to continue, ” Justin Norman, Yelp’s Vice President of Data, told Business Insider, “The virus isn’t going anywhere soon, so businesses will need to be resilient. That said, we are seeing temporary closures reduce, which is a promising signal for many businesses.”