Running a Fine Dining Restaurant in a Recession

My fear is the restaurants that survive are going to be the big chains, and we’re going to eradicate the very eclectic mix that makes America and going out to eat so vibrant and great. And there is a lot of feeling that even in good times, if chefs can’t make their numbers, they’re going to lose everything, so imagine what they must be feeling now.

What needs to happen next for restaurants? We may be headed for the worst-case scenario. Even with more government intervention,2

Changing market dynamics, business models, and the resulting features of these companies are all tied together. Business models like USHG enable restaurants to invest more than others in service, not just talk about it. Structural changes in the demand side of the restaurant industry ripple downstream into the flourishing of new business models.

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.

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