Syndicate Announces that 785 Restaurants Closed in Past 5 months

  • Economics
Syndicate Announces that 785 Restaurants Closed in Past 5 months

In the last five months, more than 785 restaurants, cafes and other food-and-beverage establishments have closed down, the Syndicate of Owners of Restaurants, Cafes, Nightclubs and Patisseries said in a statement Tuesday.

The Syndicate’s communiqué indicated that 240 institutions closed up shop in January alone.

It noted that the closure in each governorate has increased with Mount of Lebanon witnessing 54.6%, being the highest in 2019, followed by Beirut 29.4%, North governorate 6.7%, South governorate 6.6% and last but not least Bekaa with 2.5 percent.

Lebanon's economy and finances were beholding zero growth and low inflows of remittances from abroad, compounded by a lack of purchasing power, all leading to its collapse.

Source: Kataeb.org

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