Restaurant food distributors estimate losses of $ 24 billion in 3 months

Huge losses are expected over the next 3 months in the restaurant food distribution industry (Photo: iStock).

The restaurant industry is suffering, as are its food distributors, which are expected to lose $ 24 billion over the next three months alone as the pandemic shuts down and limits restaurant operations in the United States and elsewhere, according to a press release from the International Foodservice Distributors Association. .

“Right now we have heard reports from distributors that activity has declined by up to 50%…” IFDA CEO Mark Allen said in the statement. “These are not companies the size and reach of airlines, but family businesses that have endured wars, recessions and other challenges, but who say two weeks will be enough to have a significant impact on their business. business.”

In an effort to reduce the financial impacts of COVID-19, the IFDA and the FMI-Food Industry Association have launched a matchmaking partnership that connects food service distributors with excess capacity (products and capacity to transport and d ‘warehousing) to help food retailers and wholesalers who need additional resources to meet the needs of grocery stores, which are experiencing increasing demand.

IFDA represents the $ 280 billion foodservice distribution industry and the 350,000 people it employs, who deliver food to more than one million foodservice outlets across the United States every day.

Learn more about the effect of the coronavirus on the restaurant industry.

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