BATON ROUGE—An estimated quarter of the 3,400 restaurants in the New Orleans area will probably not reopen in the wake of Hurricane Katrina because of the cost of insurance, or cash-flow or staffing issues, the chief executive officer of the Louisiana Restaurant Association said Monday.
Jim Funk said that the 25 percent projection is a minimum number and could increase.
Most of the casualities, he said, will probably not be the established restaurants like Commander’s Palace or Galatoire’s, but the “mom-and-pop restaurants’’ that dot New Orleans area neighborhoods.
He said by the end of Monday there were no more than 75 of the area’s 3,394 restaurants open.
“The (financial) losses will be staggering,’’ Funk said. [Read more - NOLA]
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