The restaurant industry is among the hardest hit by the effects of the pandemic

In fact, nearly one in six US restaurants has closed on a long-term or permanent basis thus far during the pandemic and closures continue to gain pace across the nation. Challenges brought along by the pandemic have only been exacerbated by the debt load the sector had already taken on prior to the pandemic. In the absence of a significant turnaround, restaurants may be forced to contemplate a series of debt restructurings in the coming months and years.

In this article we provide insight as to how the restaurants, hospitality and leisure industry can overcome their elevated debt levels.

"Many operators facing closure are succumbing to direct consequences of the crisis, including increased expenses related to health safety, capacity restrictions, and ongoing weakened consumer sentiment."