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Nirmal Bang Report
We spoke to Mr. Dheeraj Gupta, Managing Director, Jumbo King Foods Pvt. and also conducted channel checks in Mumbai (Maharashtra) to get insights on the current environment for the overall restaurant industry.
Following are the key highlights:
The industry will see a lot of restaurants shutting down, nearly approximately 30%, at least for the near term.
Most of these would include players with weak brands, who focus on two-three different formats or different cuisines and who don't have strong systems and processes in place.
As an after effect of the pandemic, property rentals have dropped significantly.
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