Network projects have better chances to survive.
Over 30% of restaurants may fail to survive the coronavirus pandemic, according to Igor Bukharov, president of the Federation of Restaurateurs and Hoteliers of Russia. This scenario is probable in case restaurants and cafés lockdown continues until June. So far, restaurants are adopting to the situation and adjusting their tactics.
Restaurateur Mikhail Sokolov shared with Saint-Petersburg TV Channel his opinion on what the market may be like after the self-isolation period is over.
Mikhail Sokolov, founder of Italy Group: ‘I believe the economic situation and the panic are worse than the pandemic. It is not the best time to start a business now as business has stopped being business at present. We earn nothing, we are doing our best to support our employees and our customers.’
Anastasia Izmailova, host: ‘But the situation is going to stabilize eventually. What will the market be like? How will it change?’
Mikhail Sokolov, founder of Italy Group: ‘Network projects are most likely to survive. Now it is a chance for network projects as they have well-organized processes. They know how to balance their earnings and expenses. It will be easier for them to pull themselves together and take decisions to protect their business.’
Anastasia Izmailova, host: ‘But the restaurant business will not disappear altogether, will it?’
Mikhail Sokolov, founder of Italy Group: ‘No, although the world is getting digitalized, the tradition to get together around a table and look into each other’s eyes, eat and drink, it will be there.’
Anastasia Izmailova, host: ‘What we need now is a positive attitude.’
Mikhail Sokolov, founder of Italy Group: ‘We need an adequate attitude to panic and provocation, and we need love for our families, this is what will give us a chance to overcome these problems with dignity and taste.’