Colorado Restaurants Lost $3 Billion In 2020, Study Finds

DENVER (CBS4) - Colorado restaurants lost more than $3 billion in 2020, according to a new survey from the Colorado Restaurant Association. The January 2021 Restaurant Impact Survey includes feedback from 279 businesses between Jan. 15 and Jan. 30.

The association estimates the restaurant industry has lost about 94,000 jobs during the course of the COVID-19 pandemic. About half of all businesses surveyed said they will consider closing within 6 months.

"As we continue to get data from Colorado restaurants, it is clear that COVID-19 is the gravest crisis the restaurant industry has faced in living memory," said Sonia Riggs, president and CEO of the Colorado Restaurant Association. "Restaurants play a significant role in Colorado's economy. We need assistance to recover, and state and local governments have an opportunity to play a large role."

State lawmakers have introduced House Bill 21-1027, which would extend the sale of alcohol for takeout and delivery in Colorado for five years. The Colorado Restaurant Association says 95% of restaurants surveyed are making money from selling alcohol to-go and 62% of restaurants say passing the bill is "vital to helping them survive."

Over the weekend, the U.S. Senate passed the American Rescue Plan, which includes a $28.6 billion relief package benefitting restaurants. The bill will go back to the U.S. House for a final vote before President Joe Biden signs it into law.