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By Leslie Patton <\/a>and Kate Krader<\/a><\/p>\n When Chicago restaurant owner Manish Mallick does the math, the outlook isn\u2019t pretty: Sales are 10% of what they were, while costs continue to pile up, from credit card fees and city permits to masks and thermometers.<\/p>\n The owner of ROOH Chicago, an Indian restaurant nominated for the city\u2019s\u00a02019 restaurant of the year by foodie publication Eater<\/a>, gives himself a couple months at most.<\/p>\n It\u2019s going to be tough to survive,\u201d Mallick said. \u201cUltimately I need people to come and start dining in. And the more time it takes, the worse it gets for us.\u201d<\/p>\n With each week, more data emerges to show how the Covid-19 pandemic is permanently reshaping the restaurant industry. The world is currently on track for a radical overhaul<\/a> of its food-service landscape: Hundreds have filed for bankruptcy over the last three months, according to consulting firm Aaron Allen & Associates, and the situation is poised to keep worsening<\/p>\n \u201cBased on our estimates, we believe up to 10% of all restaurants globally will disappear, with 20% or more also going through a restructuring process,\u201d said founder Aaron Allen. \u201cThis is a conservative case, in our view.\u201d<\/p>\n Allen estimates there are about 22 million restaurants worldwide, so the projection implies that 2.2 million of them will close. In the U.S., the industry employs 15.6 million workers, according to the National Restaurant Association<\/a>.<\/p>\n OpenTable, which tracks restaurant activity via reservations, estimates<\/a> the failure rate could be even higher. Even before the global pandemic caused a dramatic and unprecedented shift in consumer behavior, the restaurant industry was suffering from rising debt<\/a> and too much competition.<\/p>\n So far, the list of bankruptcies includes Le Pain Quotidien and Garden Fresh Restaurants, the owner of Souplantation and\u00a0Sweet Tomatoes. Larger chains such as TGI Fridays and Cousins Subs won\u2019t reopen a number of shuttered locations, and franchisees of big chains are also increasingly feeling pressure. \u00a0READ MORE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" \u00a0 By Leslie Patton and Kate Krader When Chicago restaurant owner Manish Mallick does the math, the outlook isn\u2019t pretty: Sales are 10% of what they were, while costs continue to pile up, from credit card fees and city permits to masks and thermometers. The owner of ROOH Chicago, an Indian restaurant nominated for the… Read More »2.2 Million Restaurants Worldwide Teeter on Brink of Collapse<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":2421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[38,25],"tags":[],"class_list":["post-2420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-restaurant-business","category-what-to-read-today"],"_links":{"self":[{"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/posts\/2420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/comments?post=2420"}],"version-history":[{"count":1,"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/posts\/2420\/revisions"}],"predecessor-version":[{"id":2422,"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/posts\/2420\/revisions\/2422"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/media\/2421"}],"wp:attachment":[{"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/media?parent=2420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/categories?post=2420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jimmyschmidt.com\/wp-json\/wp\/v2\/tags?post=2420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u00a0<\/div>\n\u00a0<\/div>\n\n![\"relates](\"https:\/\/assets.bwbx.io\/images\/users\/iqjWHBFdfxIU\/ipdz04M0PWH8\/v1\/1000x-1.jpg\")
<\/div>\n<\/div>\nManish Mallick in Chicago, on June 21.<\/div>\nPhotographer: Olivia Obineme\/Bloomberg<\/div>\n<\/figcaption>\n<\/figure>\n\n![\"Bakery](\"https:\/\/assets.bwbx.io\/images\/users\/iqjWHBFdfxIU\/i996U78NZBn0\/v1\/1000x-1.jpg\")
<\/div>\n<\/div>\nLe Pain Quotidien filed for bankruptcy with plans to sell itself for $3 million in order to avoid shutting down for good, court papers show.<\/div>\nPhotographer: Andrew Harrer\/Bloomberg<\/div>\n<\/figcaption>\n<\/figure>\n