US restaurants seek US$455bil of federal aid due to coronavirus hit


Executives from McDonald's Corp, Restaurant Brands International Inc, Yum! Brands Inc and other big fast food chains met with Trump and White House officials on Tuesday about a rescue package.

NEW YORK: U.S. restaurants on Wednesday asked the White House and congressional leaders for at least US$455 billion in aid to help them weather the coronavirus crisis, saying the industry could shed nearly half of its 15.6 million jobs and a quarter of annual sales.

Restaurants could take a $225 billion hit over the next three months, equal to a quarter of their projected 2020 sales of $899 billion, the Washington D.C.-based National Restaurant Association (NRA) said on Wednesday.

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