In recent times there have been approximately 3600 (unique) restaurant location closings (per month).
For 24 years we have been tracking new openings and closings (closings for the past 2-3 years). There are currently 740,000 unique location restaurants (not including grocery/convenience).
What we expect to happen next:
1) New openings will trickle down to a small number in the next few weeks. As of late there are approximately 575-650 new (unique) restaurant openings per week. This number will pick up dramatically within a few weeks as a large number of independent and franchisee operators will be re-filing with new legal filings as terms are worked out with vendors for debts owed.
New filings will skyrocket> This will happen as most legal filings are applied for via the internet and it’s not necessary to enter into a government facility in order to get the ball rolling. 1st steps for any business are legal filings (Alcohol, DBA, Incorporation).
We will be on top of this and ramping up our research to capture the actual numbers as things roll.