Japan Coronavirus Bankruptcies Hit 1,000; Restaurants Have No Way Out
Tokyo, Feb. 2 (Jiji Press)--The restaurant industry is a leading victim of the coronavirus pandemic in Japan, data released Tuesday by a private credit research firm showed.
The cumulative number of business failures caused by the spread of the novel coronavirus reached 1,000, with the restaurant sector seeing 182 cases, the largest industry-by-industry figure, Tokyo Shoko Research Ltd. reported.
According to the research firm, an inn in Aichi Prefecture suspended operations in February last year, becoming the first to go bankrupt in the country due to the pandemic.
After marking 104 failures in June, the monthly bankruptcy figure dropped in July and August. Since September, however, the figure has stayed high around 100.
The slump in the restaurant industry also resulted in bankruptcies of 46 food and beverage wholesalers and 31 food makers.
[Copyright The Jiji Press, Ltd.]