The Economic Impact of COVID-19 On Restaurants

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The Economic Impact of COVID-19 On Restaurants
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TOMORROW AT 11:30 AM ET: Rep. Earl Blumenauer and Independent Restaurant Coalition Unveil New Data on Economic Impact of COVID-19 on Restaurants

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Q1 2020 hedge fund letters, conferences and more

Rep. Earl Blumenauer (D-OR 3) and Chefs Katie Button (NC), Gregory Gourdet (OR), and Dan Wu (KY) Will Discuss Report Finding 85% of Independent Restaurants and Bars Remain in Danger of Closing Permanently

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stocks performance 1651757664Qualivian Investment Partners performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more Dear Friends of the Fund, Please find our July 2022 performance report below for your review. Qualivian reached its four year track record in December 2021.  We are actively weighing investment proposals. Starting in November Read More

Report Also Discusses Benefits of Forthcoming Legislation to Create an Independent Restaurant Stabilization Fund

Press Dial-in: (833) 756-7475; Conference ID: 6353707

The Impact Of The COVID-19 Pandemic On Restaurants

WASHINGTON, D.C.Tomorrow, June 10 at 11:30 a.m. ET Rep. Earl Blumenauer (D-OR) will join members of the Independent Restaurant Coalition (IRC) to unveil the findings of a new report on the devastation wrought on the independent restaurant industry by the COVID-19 pandemic. Up to 85% of small restaurants and bars remain in danger of closing due to the pandemic, and the chefs will explain why an Independent Restaurant Stabilization Fund is necessary to help survive the crisis. Rep. Blumenauer will be joined by IRC chefs Katie Button (Asheville, NC), Gregory Gourdet (Portland, OR) and Dan Wu (Lexington, KY). The economic report (developed by Compass Lexecon) will be released and made public on the IRC’s website immediately following the briefing call.

Rep. Earl Blumenauer recently unveiled a plan for the “RESTAURANTS Act,” which would establish a $120 billion stabilization fund for independent restaurants and bars. This fund aims to help restaurants suffering from the economic devastation of the COVID-19 pandemic, which will persist despite recent fixes to the Paycheck Protection Program signed into law last week.

Briefing Call Details

WHO: Rep. Earl Blumeanuer (Portland, OR) — Member of Congress representing Oregon’s 3rd District, author of the RESTAURANTS Act, which would establish a $120 billion stabilization fund for independent restaurants.

Katie Button (Asheville, NC) – IRC member and owner of Cúrate Tapas Bar and Button & Co. Bagels.

Gregory Gourdet (Portland, OR) – IRC member and executive chef and culinary director of Departure at The Nines.

Dan Wu (Lexington, KY) – IRC member and owner of Atomic Ramen.

WHAT: National briefing call to release findings of a new economic report and discuss the impact of the pandemic on restaurants and what’s needed to survive the crisis.

WHEN: TOMORROW: Wednesday, June 10 at 11:30 a.m. ET

WHERE: Press Dial-in: (833) 756-7475; Conference ID: 6353707

The Independent Restaurant Coalition was formed by chefs and independent restaurant owners across the country.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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