Increase in restaurant bankruptcies in France: 25 businesses close every day

According to the news of the French newspaper Le Monde, while there was an increase in costs and a decrease in the purchasing power of customers in France, an increase in the number of restaurant businesses going bankrupt was observed.

According to the data of Altares company, which compiles data on French companies, more than 4,900 restaurant businesses in the country have declared bankruptcy since the beginning of this year. The number of businesses in the same situation increased by 7 percent compared to the same period last year.

The record-breaking temperatures seen in the country during the summer months could not enable businesses to reverse this process.

"25 restaurants close every day"

Industry employees noted that, on the one hand, the costs of products such as food and meat have increased, and on the other hand, energy prices have increased due to the Russia-Ukraine War and the war that started with the attacks of the USA and Israel on Iran.

Thierry Marx, President of the Hotel Management Professions and Industry Association, said in a statement to the press: "25 restaurants close every day." he said.

Marx stated that 20 new businesses are opened every day, but these restaurants focus more on ready-made meals rather than home-cooking.

Florence Berger, Managing Partner of Food Service Vision, a consultancy in the restaurant industry, said: "In the past, the restaurants that opened compensated for the ones that closed and there was an increase in the number of businesses. For several months, this is no longer true. This is an unprecedented change." made his assessment.