The novel coronavirus pandemic dealt Japan’s restaurant industry a major blow in 2020, leaving a record number of bars and eateries in financial ruin as customers stayed home and establishments closed early.
A record-high 780 restaurants and bars in Japan went bankrupt in 2020, the credit research company Teikoku Databank Ltd. (TDB) announced on Jan. 6 after crunching the annual figures.
Each of the eating and drinking establishments had debts of 10 million yen ($96,930) or more and were liquidated through legal proceedings.
By category, a record 189 “izakaya” Japanese-style pubs, beer halls and other eating and drinking establishments went under, mainly from having to shorten their nighttime business hours. They account for 24 percent…
Read the full article at: http://www.asahi.com/ajw/articles/14088819