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While the Restaurant Industry Is Being Hit Hard by COVID-19, it Won’t Look like this Forever
CapitalSpring’s Jim Balis explains why he believes the restaurant industry will make a comeback.
As restaurant dining rooms close and brands have to turn to delivery or carry-out, many restaurants have had to lay off employees. The Bureau of Labor Statistics reported that the employment status in March showed a 701,000 loss in jobs. 459,000 of those jobs were in the food and beverage services.
Jim Balis, Managing Director of Strategic Operations for CapitalSpring, was optimistic when talking to the New York Post about the food and beverage industry despite the Bloomberg Consumer Comfort Index reporting the biggest drop in history.
“I think the restaurant business isn’t going anywhere. My belief is, it will come back. Human beings are social beings,” Balis said. But, he added, “It will take time.”
To read the full story, click here.
As restaurant dining rooms close and brands have to turn to delivery or carry-out, many restaurants have had to lay off employees. The Bureau of Labor Statistics reported that the employment status in March showed a 701,000 loss in jobs. 459,000 of those jobs were in the food and beverage services.
Jim Balis, Managing Director of Strategic Operations for CapitalSpring, was optimistic when talking to the New York Post about the food and beverage industry despite the Bloomberg Consumer Comfort Index reporting the biggest drop in history.
“I think the restaurant business isn’t going anywhere. My belief is, it will come back. Human beings are social beings,” Balis said. But, he added, “It will take time.”
To read the full story, click here.
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