Iowa restaurant selling for $1 because of coronavirus challenges

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A restaurant proprietor in Iowa is selling his eatery for simply $1 after a troublesome 12 months because of the coronavirus pandemic.

Li Zhang advised Fox Information over electronic mail that his restaurant and karaoke bar Lark & Owl in Iowa Metropolis has suffered big losses over the past 12 months and Zhang himself is “carrying an enormous hire debt.” 

Although he’s already heard from a number of folks concerned about taking up the restaurant for simply $1, he stated they’ve all been hesitant about how costly the hire is.

According to The Gazette, which first reported the story, Lark & Owl’s hire is $5,000 a month — which doesn’t embrace any of the opposite bills the restaurant has to pay corresponding to payroll. 

Regardless of the excessive bills, the restaurant hasn’t made a revenue for the reason that pandemic hit the U.S., the newspaper reported. 

Lark & Owl was depending on its karaoke room, which has been closed because of the pandemic. Supply and takeout haven’t been capable of make up the distinction, in keeping with The Gazette.

Zhang first opened Lark & Owl in August 2019, in keeping with The Gazette. He additionally owns one other restaurant in Iowa Metropolis known as JiangHu Asian Road Meals. 

That restaurant — which Zhang opened in 2018 — has obtained a bit extra neighborhood help in the course of the pandemic and has been capable of break even repeatedly.