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Coronavirus decimates restaurant profits, but financial safety nets exist

After several years of expansion, the novel coronavirus has pushed restaurant revenue into a freefall. In an already thin-margined business, many operators have been left without a parachute. As the days and weeks of social distancing drag on, restaurants are forced to come up with creative ways to keep the lights on in the hopes that the post-crisis economy will just be around the corner. 

Restaurants Get No Relief from Business Interruption Insurance

As restaurant operators around the country are now learning, many, but not all, restaurant insurance policies do not cover business interruption due to viruses and pandemics.  

Restaurant Employee Relief Fund from NRAEF

The Restaurant Employee Relief Fund was created to help restaurant industry employees experiencing hardship in the wake of the coronavirus disease (COVID-19) outbreak. Through this Fund, grants will be made to restaurant industry employees who have demonstrated being financially impacted by COVID-19, whether through a decrease in wages or loss of employment. These grants will be made on a first-come first-served basis, subject to availability of funds.

Best Practices for Takeout during COVID crisis

In an attempt to offer some best practice points this document was created. Since every restaurant is unique and faces its own set of challenges, some of these may not apply. Some are obvious but need to be re-iterated as particularly important at this time.

COVID-19 Paid Leave Obligations – What Restaurants Need to Know
Tuesday, March 31 at 1:30 p.m.

In this webinar, attendees will learn about:
- New York’s NEW paid sick leave law.
- Families First Coronavirus Response Act and its NEW FMLA leave benefit and paid sick leave benefit requirements.
- Q&A regarding the policies above, as well as other employment law issues related to the pandemic.

Presented by R. Scott DeLuca, Esq., Kavinoky Cook, LLP

This is a free webinar. Register Here.