Over 700 Japanese eateries will fail in 2020 in a pandemic

Over 700 Japanese eateries will fail in 2020 in a pandemic

According to a credit bureau, the number of bankruptcies in the Japanese food and beverage industry was 715 last year, the third highest in 20 years, among the new coronavirus outbreaks.

Teikoku Databank reported in a recent research report on a company that went bankrupt with a debt of 10 million yen, and its performance for the year ending March 31 reflects 183 failures in the bar and beer hall sectors. , Said the highest since 2000 when comparative data became available ($ 91,000) or more.

Following last year’s record high of 784 bankruptcies, the industry suffered a labor shortage and the sales tax was raised from 8% to 10%, according to Teikoku Databank investigators.

In prefectures such as Osaka, there are still requests for shortening business hours, and new incidents are increasing rapidly, so this year, “bankruptcies cannot be expected to decrease significantly.”

Still, coronavirus vaccination, stimulus, and the launch of the Tokyo Olympics and Paralympics scheduled for this summer should help stimulate consumer sentiment and improve the industry’s business environment, he added. It was.

In the first eight months, monthly bankruptcy cases have increased from almost a year ago. However, the trend changed when it fell 31.3% in December as the government’s Go To Travel and Go To Eat grant programs to support the tourism and restaurant industry were rewarded.

Financial assistance to restaurants and bars in response to a second state of emergency requesting closure by 8 pm also helped reduce business failures in the last few months of last year, officials said. ..

The number of failed eateries decreased by 36% and 56.3% in January and February, respectively, and decreased by 2.6% in March.

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