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NYC Restaurant Count Plunges by 2,000
Kobeissi says NY restaurant count fell ~2,000 YoY in Q1 2026, the largest drop in at least 36 years.
Key points
- The number of restaurants in New York dropped ~2,000 YoY in Q1 2026, the largest YoY decline in at least 36 years.
- The decline surpasses the worst contraction recorded in any quarter during the 2020 pandemic.
- Eating and drinking places in New York State have now declined YoY for 4 consecutive quarters, the longest streak since 2021.
- Employee health insurance costs for New York-area service firms jumped +12.9%, business insurance rose +7.0%, and utility costs surged +8.5%, according to the Manhattan Chamber of Commerce.
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Original post
BREAKING: The number of restaurants in New York dropped ~2,000 YoY in Q1 2026, posting its largest YoY decline in at least 36 years.
This surpasses even the worst contraction recorded in any quarter during the 2020 pandemic.
The number of eating and drinking places in New York State has now declined YoY for 4 consecutive quarters, its longest streak since 2021.
This comes as restaurants are facing surging operating expenses, including insurance premiums, wages, interest rates, utilities, and health coverage, with overall costs rising faster than national averages.
Last year, employee health insurance costs jumped +12.9% for New York-area service firms, business insurance rose +7.0%, while utility costs surged +8.5%, according to the Manhattan Chamber of Commerce.
Skyrocketing costs are crushing New York restaurants.
Top replies on X
Reaction on X: Replies are largely critical, blaming high minimum wages, climate taxes and tax policy, with one questioning official inflation data on health insurance costs and another saying people will no longer pay $50 for a hamburger or $60 for a cheese pizza. No response from the original poster.
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From @alloverit727, @SPDRKing, @intelarb and others. Spam removed, with English and Chinese translations.
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