Why Restaurants Are Closing Across America: Insights from Kevin O'Leary The Economic Squeeze on Restaurants Let's get real for a moment. The restaurant industry, once a bustling scene of clinking glasses and sizzling platters, is facing an existential crisis. Kevin O'Leary, the Shark Tank guru, paints a grim picture. Food costs have shot up by a staggering 30 to 40 percent over the past three years. It's like the pandemic punched the industry in the gut, and it still hasn't caught its breath. The Unwelcome Hangover of the Pandemic Remember the good old days before COVID-19? People packed restaurants, shared laughs, and didn't think twice about elbow-to-elbow seating. But now, even with the world opening up, customers are hesitant to return. The pandemic forced a massive shift in dining habits, and many folks have grown comfortable ordering their favorite meals from the comfort of their couches. The Telecommuting Tidal Wave Here's another kicker: the shift ...
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