Owner of Paradise Valley Restaurant Featured on CBS
CBS News featured Chuck Tanner, the owner of the Emigrant Outpost in Pray, MT, in a story about how the extension of the Paycheck Protection Program will hopefully allow some restaurants to hang on as the country continues to battle COVID-19. You can watch the interview below.
According to the National Restaurant Association, 1 in 6 restaurants has been forced to close either permanently or long-term this year because of COVID restrictions. This information was released back in September, so that number has probably higher now. Nearly 3 million restaurant employees were forced out of work because of shutdowns or restrictions in the industry. The National Restaurant Association believes that the industry will lose some $240 billion in sales this year.
According to a recent survey released by the National Restaurant Association, nearly 1 in 6 restaurants (representing nearly 100,000 restaurants) is closed either permanently or long-term, and nearly 3 million employees are still out of work; and the industry is on track to lose $240 billion in sales in 2020.
Here's some further insight on the restaurants that were forced to close this year because of COVID-19.
- On average, restaurants that closed permanently had been in business for 16 years.
- 16% of businesses that closed had been in business for over 30 years.
- Before closing, these restaurants employed on average 32 people. 17% of these restaurants employed at least 50 people.
We wish all of our Bozeman area restaurants the best in 2021, and we will do our best to frequent and support you this coming year.