Quote:
Originally Posted by FlyingScot
Agreed--it's brutal and sad. If I owned a restaurant, I think I'd hand the landlord the keys and ask when he'd like for me to vacate. All the while praying that the landlord recognizes that the current tenant, even when he can't pay rent, is still the guy most likely to be able to pay rent as we come out of this. This year, just surviving is success.
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Yes, 100% agreed. The day of the shutdown, a friend that owns a restaurant locally said, over our last cocktail, that if it lasts a month he may end up selling for the real estate. I am sure he said it somewhat out of frustration, but only somewhat.
My sister has three restaurants in MA, they are doing a little takeout but over 100 people are laid off. Right now most people in the restaurant biz are doing OK as long as they were working above the table, but the additional $600 that most receive through unemployment will end in July (likely some extension will happen, but I am sure it will be more formula based). That is when the real pain may happen.