Record 183 Bar, Beer Hall Operators Fail in Japan in FY 2020
Tokyo, April 2 (Jiji Press)--The number of bar and beer hall operators that went bust in Japan in fiscal 2020, which ended in March, came to 183, the largest on record, due to the fallout of the novel coronavirus crisis, Teikoku Databank Ltd. said Friday.
The result came as bars and beer halls were requested to cut operating hours to prevent the spread of the novel coronavirus and subsequently faced difficulties serving alcoholic beverages at night, a Teikoku Databank official said.
A total of 715 dining industry businesses went bankrupt in fiscal 2020, the third largest in and after 2000, when the current survey format was introduced, the credit research firm said.
In April-September, bankruptcies in the industry stood at 392, a record high on a fiscal first-half basis. But financial aid for restaurants and bars accepting requests for shorter opening hours helped curb the number of bankruptcies in and after December, when a third wave of coronavirus infections began in the country, according to Teikoku Databank.
In the latest fiscal year, 99 Chinese and other Asian food restaurant operators, 92 Western-style restaurant operators and 67 Japanese restaurant operators went under.
[Copyright The Jiji Press, Ltd.]