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3 ways restaurants can conserve cash during the coronavirus shutdown - Business Insider

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3 ways restaurants and bars can conserve cash during the coronavirus shutdown, according to the CEO of a hospitality group that has venues in NYC, DC, and Atlanta

"due to a near-complete elimination of revenue," according to a company statement.

"Obviously if we're not open, we have no way to pay the rent." Gerber said. "So to me that's the most important part. And hopefully they'll step in and help employees with a little bit more relief than just unemployment." "We're basically just asking everybody to allow us to suspend our accounts and not do payments currently," Gerber said."For any non-essential contracts, we've kind of asked our big vendors to just work with us so we can get through this," Gerber said.Some liquor companies, for example, are letting Gerber Group's venues extend their payment schedule beyond the typical 30 days, he said.

 

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