Economic crisis hits restaurants: 8 out of every 100 closed companies were restaurants

According to data from the Union of Chambers and Commodity Exchanges of Turkey (TOBB), restaurants accounted for 8.25 percent of the companies that closed in 2023.

Among the activities with the highest number of closures in 2023, restaurants ranked 2nd in the limited liability company group and 4th in the joint-stock company and sole proprietorship groups.

WHAT WERE THE FIGURES IN PREVIOUS YEARS?

While the number of closed restaurants was 1,737 in 2022, their share among closed companies was at the 7.14 percent level. Thus, the number of restaurants that closed in 2 years reached 3,873.

In 2020, thousands of businesses had shut down following temporary closures in the food and beverage sector due to the pandemic. In 2020, when 23,170 companies closed, 1,733 firms operating in the field of "restaurants and mobile food services" locked their doors. The pandemic effect continued in 2021 for restaurants, which opened gradually in mid-2021. While 16,222 companies closed in 2021, restaurants accounted for 1,418 of these companies.

News Source: 12punto