March 20, 2020

Foodservice distributors project $24 billion loss due to COVID-19
Distributors seek financial relief to maintain viability during pandemic


The International Foodservice Distributors Association (IFDA) projects the industry will lose $24 billion over the next three months as the COVID-19 pandemic shuts down restaurants, schools and hotels. The following is a statement from IFDA CEO, Mark Allen.

“Our projections show foodservice distributors will lose $24 billion over the next three months as restaurants, schools and hotels close in response to the COVID-19 pandemic. Right now, we have heard reports from distributors that business has declined up to 50 percent. That’s why we need Congress to act now-- and provide the foodservice distribution industry with federally backed loans as part of its relief packages so we can remain viable. These are not businesses the size and scope of the airlines, but are family-owned businesses that have sustained wars, recessions, and other challenges but who say two weeks of this is all it will take to have a significant impact on their business.”

In an effort to lessen the financial impacts of COVID-19, IFDA and FMI-Food Industry Association launched a match-making partnership that connects foodservice distributors with excess capacity (products and transportation and warehouse capacity) to assist food retailers and wholesalers that require additional resources to fulfill needs at grocery stores, which are experiencing skyrocketing demand.
 
IFDA also sent a letter to President Trump, urging him to work with Congress to develop policy to relieve the current capital crisis brought on by the coronavirus pandemic.
                                      
About the International Foodservice Distributors Association
The International Foodservice Distributors Association (IFDA) is the premier trade organization  representing the $280 billion foodservice distribution industry and the 350,000 people it employs. This industry ensures a safe and efficient supply of food and products to more than one million restaurants and foodservice outlets in the U.S. every day. For more information, visit www.ifdaonline.org.
 

Related Articles

November 15, 2022
IFDA Urges 118th Congress to Focus on Strengthening the Economy

IFDA Urges 118th Congress to Focus on Strengthening the Economy

IFDA is optimistic that the House and Senate will seize this opportunity and address our nation’s challenges by bridging partisan divides and creating solutions that will strengthen the economy and help American businesses thrive. Read more

September 26, 2022
IFDA Statement on the Confirmation of Robin Hutcheson as Administrator of the Federal Motor Carrier Safety Administration

IFDA Statement on the Confirmation of Robin Hutcheson as Administrator of the Federal Motor Carrier Safety Administration

Mark S. Allen, President and CEO of the International Foodservice Distributors Association (IFDA), congratulates Robin Hutcheson on her confirmation as Administrator of the Federal Motor Carrier Safety Administration (FMCSA). Read more

September 16, 2022
Forward-Looking Distribution Solutions Conference Draws New Industry Roadmap

Forward-Looking Distribution Solutions Conference Draws New Industry Roadmap

Cutting-edge foodservice distribution technology and bold strategies for recruiting, developing, and retaining the industry’s personnel took center stage during the 2022 Distribution Solutions Conference, held from Sept. 14-16 in the Tampa Convention Center.  Read more