9 Out of 10 NYC Restaurants Were Unable to Pay August Rent in Full
  • 4 years ago
You may have heard, that in New York City, the rents are much too high.This makes running a restaurant difficult even when times are good.But during a pandemic, making sure the landlord gets paid is proving to be nearly impossible.A new report suggests that nearly nine out of ten restaurants in the city failed to pay their rent in full last month.The trade organization surveyed 457 restaurants, bars, nightclubs, and venues from August 25 to September 11, 2020.A striking 87% of respondents said they were unable to pay their August rent in full.And that's in large part because 60% of landlords were unwilling to waive or reduce their rents.On September 30th, indoor dining will finally be able to resume at 25% capacity, so hopefully that will bring some relief
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