Even with outdoor dining, 87% of NYC restaurants couldn't pay their full rent in August - Business Insider

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Even with outdoor dining, 87% of NYC restaurants couldn't pay their full rent in August

in the city throughout the pandemic. In the most recent update, more than a dozen restaurants announced they were closing their doors.experts told Business Insider's Kate Taylor and Irene Jiang"Even with 100% occupancy before the pandemic, it was already very difficult to survive as a restaurant in New York City," Andrew Rigie, the executive director of the New York City Hospitality Alliance, told Taylor and Jiang.

In a statement to Business Insider, Rigie said that "approximately 150,000 industry workers are still out of their jobs, and the overwhelming majority of these remaining small businesses cannot afford to pay rent. "The hospitality industry is essential to New York's economic and social fabric, and to ensure the survival of these vital small businesses and jobs, we urgently need rent relief, an indefinite extension of outdoor dining, a roadmap for expanded indoor dining, covered business interruption insurance and immediate passage of the Restaurants Act by Congress.

 

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How can they be expected to pay the full amount? There isn't enough room to make up for the lost square footage

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