It's estimated that as many as 20% of restaurants in the U.S. might not make it — especially when the weather gets colder and many places have to close patios and outdoor seating.
Thousands of restaurants have filed for bankruptcy in the last few months. A recent report from Yelp found that nearly 25,000 restaurants have closed since March and more than half may never reopen.
The pain is being felt throughout the restaurant sector. Big chains are struggling: IHOP recently filed for Bankruptcy, along with Wendy's, Le Pain Quotidien, Chuck E. Cheese, and Sweet Tomatoes and Souplantation. But it's small restaurants that are really suffering. Most are independently owned; they don't have the protection that size and scale can bring; and they generally don't have much money stored away for tough times.
Some restaurants are doing everything they can to make it through. We talk to one restaurant owner about what he's doing to stay open.
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