Restaurant bankruptcies in 2023 increased 70% from the previous year, with "Izakaya" and "Cafes" recording the highest number ever.

Teikoku Databank conducted a survey and analysis of restaurant bankruptcy trends in 2023, finding that there were 768 restaurant bankruptcies last year, a 1.7-fold increase from the previous year (452 cases), which was the lowest number in the past 10 years.

The business environment deteriorated significantly following the declaration of a state of emergency in response to the spread of COVID-19, resulting in closures and shortened business hours, and many restaurants were forced to give up on continuing their business, marking the second highest number of cases on record after 780 cases in 2020.

Last year, I felt like there were a lot of long-established stores that closed due to rising prices, aging buildings, and issues with succession.

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Restaurant bankruptcies: 768 cases in 2023, up 70% from the previous year; "izakaya" and "cafe" businesses hit record high

Teikoku Databank conducted a survey and analysis of restaurant bankruptcy trends in 2023. The data collection period is up to December 31, 2023. The data covers bankruptcies due to legal reorganization with debts of 10 million yen or more.

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