Touch the Soil News #1543 (Feature photo – Panera Bread Restaurant – CCO 1.0 Universal Public Domain)
News portal Investing.com created a slide show of almost 90 restaurants that are predicted to be closing branches in 2020. While it is not a precise report or complete, there are some concerning indications. Over 80 restaurant chains are projected to close over 7,700 locations this year. That equates to 21 locations every day. Will this frightening volume of closures force people to rethink how to approach economics?
The story does not include the number of new restaurant openings, but the bottom line is that billions of dollars of previous investments and possibly more than 200,000 people will lose their existing jobs. At a minimum, the story creates a picture of broad economic uncertainty and devastating financial losses for the companies and thousands of franchise owners. What do you think? You can see the slide show here: