As the cold, dark days of winter carry on, restaurants all over the country are struggling to keep patrons coming in the proverbial door. Despite expensive and elaborate upgrades to help make restaurant dining safer, the one-two punch of the pandemic and frigid temperatures has done a number on restaurants' cash flow. Already, 17% of all restaurants in the United States have permanently closed since the start of the pandemic.
The National Restaurant Association described the industry as being "in an economic free-fall" in their plea to the U.S. House of Representatives, for some economic relief. If no help is received, they expect 58% of restaurants to continue furloughs and layoffs in the first quarter of the year.
There are, however, some big businesses doing their part to support the restaurant industry in its time of need. Capital One, for example, is taking a multi-pronged approach to helping the restaurant industry. One of those initiatives is providing over 30 restaurants nationwide with funding to safely and successfully winterize their outdoor dining options so they can stay open and keep their occupancy up.
"Restaurants are anchors in the communities in which we live and work, which is why we're providing them support so they can better access the tools they need to survive these difficult winter months," says Monica Bauder, Head of Cardholder Access at Capital One. "At Capital One, the dining industry has always been an important community to us and we want to continue to find ways to help them through this difficult time."