Restaurants Face a Challenge If They Reopen with Limited Dining Capacity. What Can Landlords Do to Help?
PPP loans and income from takeout and deliveries will not be enough to help most tenants stay afloat.
June 3, 2020 | Liz Wolf | National Real Estate Investor
The U.S. restaurant sector has sustained one of the heaviest blows during the COVID-19 pandemic as national quarantines forced the closures of restaurant dining rooms across the country.
Full-service and casual-dining chains are less equipped to pivot to delivery and takeout, and many can’t survive on takeout orders and curbside delivery alone.
Those restaurants in which their normal business model is having people in the restaurants have “gotten devastated and they’re literally fighting to survive,” says Kenneth Lamy, president and CEO of The Lamy Group, a financial management consulting firm that works with landlords to help assess their retail tenants’ financial performance.
