Renowned restaurants, including Cipriani, Smith & Wollensky, The Smith, and Boqu...
NEW YORK - Renowned restaurants, including Cipriani, Smith & Wollensky, The Smith, and Boqueria, as well as owners Stephen Starr and chef Bobby Flay, have formed a new group seeking help from New York City landlords to survive the coronavirus crisis.
On March 15, New York City Mayor Bill de Blasio ordered restaurants, bars and cafes to close except for takeout, delivery and drive-thru, dealing a massive blow to an industry that is already dominated by small business owners operating on razor thin margins. But companies say they are waiting until health officials signal the all clear, which is unlikely to happen soon as New York has become the epicenter of the U.S. outbreak with some 18,000 known cases of the illness caused by the new coronavirus in the city alone.
Some restaurant companies may already have government-backed small business loans, and alternative lenders charge high borrowing rates.
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