[SteveM85]

Originally Posted by BobNJ1960

Many will not reopen due to huge losses.

Other bars/restaurants will open in their place.
I hadn't realized there were still bar only establishments still around, even pre-covid

[Stylo]

Originally Posted by SteveM85

Other bars/restaurants will open in their place.
I hadn't realized there were still bar only establishments still around, even pre-covid

Can't know where things will be in a few months, but I've counted nearly 15 new restaurant/food/drink businesses in New Haven since March, and 3 closures. Of course that could get worse. But it's encouraging for the short term.

I did make it to Camacho Garage, and it was very busy. Also hit Flipside in Milford, which opened during the pandemic, also busy.

Retail chains seem to be the worst off at the moment.

We lost a few businesses in downtown Milford, but honestly–most weren't great to begin with. The hope is something better replaces them.

[SteveM85]

Originally Posted by Stylo

Can't know where things will be in a few months, but I've counted nearly 15 new restaurant/food/drink businesses in New Haven since March, and 3 closures. Of course that could get worse. But it's encouraging for the short term.

I did make it to Camacho Garage, and it was very busy. Also hit Flipside in Milford, which opened during the pandemic, also busy.

Retail chains seem to be the worst off at the moment.

We lost a few businesses in downtown Milford, but honestly–most weren't great to begin with. The hope is something better replaces them.

Phase 3 and plexiglass bars are going to help tremendously.

[ayoskillz]

Originally Posted by SteveM85

Phase 3 and plexiglass bars are going to help tremendously.

Hopefully phase 3 will help but alot of places are starting to go back into lockdown which is devastating to businesses even more when they have to re shut fown again

[BobNJ1960]

Originally Posted by SteveM85

Phase 3 and plexiglass bars are going to help tremendously.

Winter will hurt. Many folks are uneasy about eating inside. Big Christmas corp holiday parties are a gold mine for restaurants, and are now gone in 2020.

I am very pessimistic, as are many business orgs, about the state of hospitality to endure covid and survive. In NYC, surveys indicate 90% of restaurants are 2+ months past due on rent. A small 1,200 foot coffee shop in midtown is usually looking at $8-10k month in rent. How do they add $20k in cash flow to catch up? Ct while cheaper is still very pricey regarding commercial rents. A friend was approached 20 years ago to open a small newsstand in the Connecticut Post, and the rent then was $8k/month. He declined, knowing he'd be bankrupt in the first quarter there. At the time, the vendor share of lotteries were 5%, with over $1k monthly deducted from that for equipment rental, plus escrow bank account fees. He was breaking even paying $7k less per month in rent where he was.

[Stepfordct]

Keep in mind all of the restaurants that opened post CV were leases signed before CV. They are very vulnerable with a full debt load. Most of them would not open if they could walk away with no liability in this environment.

[Stylo]

Originally Posted by ayoskillz

Hopefully phase 3 will help but alot of places are starting to go back into lockdown which is devastating to businesses even more when they have to re shut fown again

Where? Except UK?

[BobNJ1960]

Additional mass layoffs at Subway hq in Milford.

https://nypost.com/2020/09/29/50-mor...ays-cold-cuts/

[Reilly1017]

Here is one of the biggest challenges not being talked about enough - consumer buying habits are changing. I’ve noticed it myself as well.

Pre-covid ... we would eat out regularly and 1-2 times a weekend (FRI-SUN). With drinks, tip, tax, maybe an appetizer, etc you spend $X. However, after 5 months of not eating out at all I realized how expensive it is to go out. Keep in mind, I can afford it, but all of a sudden having a $70, $80 total bill for 75 minutes of experience (or whatever the numbers are for you) relative to the lesser cost to just get the two entrees to go with tip, the take out option seems much more reasonable. Keep in mind, I’m talking about the difference between say going out and eating a knife/fork meal versus take out something like Max Burger (where you are spending $15 a person take out). Even worse, when comparing to spending the $80 on groceries.

There’s still a place to eat out and I enjoy it and will do it, but people’s spending habits have shifted. When you stop the pattern of spending and then go back to a $100 charge that isn’t filling your fridge with food, it makes you realize and think. Combine that with most people still have an uncomfortable feeling eating inside, being sketched out and spending the money? Not ideal.

[BobNJ1960]

Very true, Reilly1017. I still eat out more than many, but far less than pre covid, and I feel safe eating both inside and outside at restaurants.

It is not strictly a cost issue, but a higher level of liking to eat at home.

What you are talking about , eating out, is a want, not a need, and I expect the reduction in business for things we used to want will remain at depressed levels, long after covid, due to people's perceptions of its values changing.

I know many family members and friends, in many states, behaving the same way.

There will NOT be a reset , at any point, to the pre covid economy IMO.