New data from Alignable shows that 36% of independent restaurant operators couldn’t pay their rent in July, a material improvement from 45% who reported delinquencies in June.
July was the second lowest month for rent delinquencies in the independent restaurant sector this year, behind March, which was at 34%. May’s delinquencies were 44%, April’s were 49%, February’s were 40% and January’s were 38%. Rent delinquencies for the sector were a staggering 52% in December, illustrating the past six months have been all over the map for independent operators, who continue to grapple with higher rent prices overall, as well as higher interest rates and slowing traffic.
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