Retail News: Top Stories
June 10, 2020
Top stories in retail news and the business headlines that interest us today.
Chain Restaurants Closing
Business Insider — Chain restaurants including Starbucks are permanently closing over 900 total locations because of the pandemic. Here’s the full list.
“Some chains have already filed for bankruptcy protection or closed all restaurants. Others are taking a slower, quieter, or more measured approach to closures. However, this is likely only the beginning of a large wave of closures for casual-dining concepts, which are much less likely to make it through the pandemic unscathed than delivery-oriented restaurants.”
Rising Food Prices
“While food companies and supermarkets say they have reopened plants and resolved supply constraints that contributed to higher prices, they also expect prices to remain elevated because of increased costs for labor and transportation.”
Delivery Fees
“Even as apps like Grubhub, Uber Eats and DoorDash have cast themselves as economic saviors for restaurants in the pandemic, their fees have become an increasing source of difficulty for the establishments.”
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