Sales at restaurants and drinking places saw double-digit growth in June. U.S. manufacturing activity appears to be on the rise. The IRC’s appeal for $120 billion in federal funds to support independent restaurants appears to be gaining support in Congress. Here's what you need to know.
The concept of meal kits is not a new one. Yet this segment is enjoying something of a rebirth thanks to coronavirus.
Purchasing managers report strong June growth. Craftworks holdings finds new ownership. Buffets and salad bars are gone thanks to COVID-19 and when they will be back is anyone’s guess. Dunkin’ will close 450 small stores. These stories and a whole lot more This Week in Foodservice.
Up to 85% of restaurants could close, according to a study from the Independent Restaurant Coalition, which formed during COVID-19 to provide a voice for smaller operators. The IRC recommends the Federal Government establish a $120 million Restaurant Stabilization Fund to save the industry. The IRC contends establishing the fund will generate $248 billion in economic returns.
Like so many of his fellow restaurateurs, Cameron Mitchell was forced to close his operations to comply with government stay at home orders aimed to slow the spread of COVID-19. In Mitchell’s case this meant closing 36 restaurants and laying off 4,500 employees.
Despite the May sales increase at foodservice and drinking places, the restaurant industry faces a long road back. Surveys show manufacturing sector is picking up, and Foodservice receives more media coverage. McDonald’s results show the complexity of ever-changing industry dynamics.
Delivering restaurant food doesn’t seem to be high tech nor exciting nor financially spectacular. Despite this, almost overnight some investors became infatuated with food delivery, something pizza and Chinese restaurants had been doing for decades.