Over 700 eateries fail in FY 2020 in Japan, 3rd largest amid pandemic

Economy

The number of bankruptcies in Japan's eatery industry totaled 715 last fiscal year, the third largest in 20 years, in the wake of requests for shorter opening hours to prevent the spread of the new coronavirus, a credit research firm said. The dour result for the year ended March 31 reflects 183 failures in the bar and beer hall sector, the highest since fiscal 2000 when comparative data became available, Teikoku Databank said in a recent survey report on firms that went bankrupt with debts of 10 million yen ($91,000) or more. The total outcome follows a record 784 bankruptcies the previous ye...

Kyodo News

Kyodo News