39% of restaurants can`t afford June rent, report finds

Dive Brief:

• Thirty-nine percent of restaurants were unable to cover their rent payment for the month of June, according to a report from Alignable.
  
  
• This data marks an improvement from May`s report, which showed that 49% of restaurant owners could not cover rent and a big jump from December, in which 61% couldn`t pay rent. However, the number of businesses unable to pay rent in June increased in New York, Virginia, Arizona, North Carolina and Florida.
  
  
• Ongoing rent problems are exasperated by lack of revenue and traffic, as well as labor shortages and inflation, the research revealed. Fifty-five percent of small business owners say they can`t fill necessary positions, marking a 5% increase from May.

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RSK: Looks like the perfect storm with labor and food supply shortages leading the way. Going to take a while to fix this hot, mess.

Ken Notes: I soo wished we had partnered with banks to use our trillions to pay interest to hold everyone over because as it stands we will have as Ralph said a mess....