David Chang Isn’t Sure the Restaurant Industry Will Survive Covid-19 (Published 2020)

Top Chef judge Tom Colicchio called the illusion of restaurant prosperity “smoke and mirrors” in a recent interview with The Daily Beast, and predicted that, as a result of the underlying precariousness, only 25% of restaurants in the U.S. will survive this crisis. He himself announced on March 14 that he was closing all of his restaurants in New Y... See more

Many of the restaurants that close during the pandemic will not reopen their doors. Diners should also brace for a restaurant landscape that will be entirely different by the time — however near or far off it may be — they can be safely encouraged to enjoy a crowded night out again.

It would be glib to suggest that most restaurants can survive by simply pivoting to delivery. Indeed, many won’t—and not just because some consumers might be afraid of lukewarm trout. The bigger problem is that the most popular delivery items (appetizers and entrées) tend to be the least profitable, while delivery consumers rarely order the higher-... See more

No industry was spared from the effects of Covid-19, but restaurants were undoubtedly one of the hardest hit. The numbers prove the stark reality: food service industry sales fell by $240 billion in 2020 from a projected $899 billion, and more than 110,000 eating and drinking establishments closed last year nationwide (that doesn’t include what’s s... See more