Don’t Starve New York Restaurants

Facing massive losses, the city’s hard-hit eateries need regulatory relief.
 

Steven Malanga September 9, 2020

 Few local industries anywhere in America have suffered more from Covid-19 than New York City restaurants. Closed by government order mid-March, restaurants laid off an unprecedented two-thirds of their workers—a total of about 200,000 positions—in April alone. As the city has gradually begun easing the lockdown, a hospitality industry dominated by small, often undercapitalized businesses, where profit margins were already small, faces a bleak long-term outlook thanks to what may be enduring changes in consumer dining patterns.

What will make the revival of Gotham restaurants even more difficult, however, is that they have long been among the most regulated industries anywhere. In recent years, increasingly progressive regimes in Albany and at City Hall have layered on regulations and mandates that have placed new burdens on eateries. Without some rollback of these onerous and costly conditions, an industry that once employed hundreds of thousands of New Yorkers will struggle to revive, and business failures will soar...........To Read More...

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