(Bloomberg) -- The coronavirus outbreak has cost New York city caterer David Turk at least $500,000 so far.
Turk, who owns Indiana Market & Catering, lost one of his biggest gigs when Microsoft Corp. recently canceled a Manhattan event as the virus spreads and officials advise against attending large gatherings.
“There was a deposit paid but the balance of it was what we were counting on, and of course it's gone,” Turk said. “Virtually everything that was on the books is either canceled or going to be rescheduled for a later time.”
Fears of the virus are taking over New York City. The St. Patrick's Day parade in Manhattan has been canceled, while other major events, including the Big East tournament at Madison Square Garden, are shutting down. With more and more workers staying home, businesses in New York are bracing for a major hit.
So far, Turk has had about 10 events canceled. Fellow caterers are already laying off staff, while Turk is trying to avoid taking that step with his small team. He might appeal to his landlord for rent relief.
“It's rather devastating,” he said. “This is going to be horrible for the New York economy. horrible. There's going to be a lot of people who are going to need help.”
To contact the reporter on this story: Natalie Wong in New York at nwong133@bloomberg.net
To contact the editors responsible for this story: Craig Giammona at cgiammona@bloomberg.net, Christine Maurus
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