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Posted On: 04/17/2020 9:10:03 AM
Post# of 27274
Food Makers Get Shot of Reality Now that Panic Buying Has Waned
Isis Almeida, Mike Dorning and Marvin G
(Bloomberg) -- Some of America’s largest food companies are finally feeling the pinch with restaurants across the U.S. remaining closed for weeks as a result of the coronavirus pandemic.
The decline in store sales comes at a time when prolonged shutdowns are weighing on restaurants. Many have even stopped take out and delivery. The restaurant industry lost $25 billion in sales and eliminated 3 million jobs between March 1-22, with 3% of establishments permanently closed and another 44% temporarily shut, according to the National Restaurant Association.
https://www.msn.com/en-us/money/companies/foo...li=BBnbfcL
Isis Almeida, Mike Dorning and Marvin G
(Bloomberg) -- Some of America’s largest food companies are finally feeling the pinch with restaurants across the U.S. remaining closed for weeks as a result of the coronavirus pandemic.
The decline in store sales comes at a time when prolonged shutdowns are weighing on restaurants. Many have even stopped take out and delivery. The restaurant industry lost $25 billion in sales and eliminated 3 million jobs between March 1-22, with 3% of establishments permanently closed and another 44% temporarily shut, according to the National Restaurant Association.
https://www.msn.com/en-us/money/companies/foo...li=BBnbfcL
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