Episode description:

Following a relatively optimistic March in which independent restaurants’ rent delinquencies improved materially, things seemed to have slowed down again. According to new data from Alignable, 49% of small restaurant businesses couldn’t pay the rent in April.

April’s delinquencies were at the highest level thus far in 2023. In March, rent delinquencies fell to 34% versus 40% in February, 38% in January and 52% in December.