Preliminary data from Technomic shows that chains grew by 3%, while small restaurants declined by more than 2% last year.
Closures and bankruptcy filings have ticked up this year despite relatively steady consumer spending.
China’s housing bubble has popped, and the commercial property market is going through a rough patch.
With pandemic restrictions still cutting into revenues, some business owners say they need a break on commercial rent. But not all landlords are willing to negotiate.
Some are getting breaks on commercial and residential rent, but it won’t last forever.
Commercial leases are typically hard to break, but many landlords are willing to defer or discount rent right now
