Follow UsFollow UsFollow Us Client Login

Gerber Financial Advisors


WHAT WE KNOW: RESTAURANT & BAR UPDATE

March 20, 2020
 
For our clients who own restaurants and bars, here is a summary of what we know about Governor DeWine's Order for closing onsite consumption:
 
Expansion of Unemployment Benefits
  • Workers will qualify for unemployment benefits if the employer lays off employees, shuts down operations, or if the employee is in mandatory quarantine because of a confirmed or suspected diagnosis of COVID-19.
  • The one-week waiting period for eligible Ohioans to receive unemployment benefits has been waived.
  • Penalties for late quarterly reports or payments will be waived.
 
Liquor Buy Back
  • Unopened high proof liquor products purchased in the last 30 days can be returned for a full refund by bringing it back to the Contract Liquor Agency where it was purchased.
 
Driver / Delivery Insurance Coverage
  • If up until this point, your original business practice has not included delivery service,contact your insurance company before offering first party deliveries. Your CGL policy might not cover it.

Communicate With Your Landlord
  • The Governor's Order will constitute a "force majeure" event in nearly every lease, which will:
    • excuse most bars from obligations such as a continuous operations requirement
    • arguably excuse restaurants from the continuous operations requirement if it is commercially unreasonable to operate as a carryout / deliver food service option only
  • Payment of rent may notbe excused by a force majeure event, unless your Rent Commencement Date has not yet occurred. Please review the force majeure clause in your lease to confirm options.
  • Unfortunately, the Governor's Order isn't usually a covered event under the business / rental interruption insurance policy. Business interruption insurance is almost always triggered by a property damage event, such as hurricane, tornado, bomb, etc.
  • We recommend opening the lines of communication with your landlord now, and being transparent about your financial statements, rent abatement, rent deferment and other repayment methods.

Personal Liability for Company Debts
There is personal liability for the following debts of a corporate entity:
  • Sales Tax
  • Withholding tax
  • Employee benefits and wages
Under the Perishable Agricultural Commodities Act, personal liability is possible for debts from the purchase of raw fruits, produce, vegetable and other perishable items whether or not they are frozen or packed in ice.
 
If you have additional questions, please reach out. We're here as your partner and will be by your side through this unprecedented crisis.
 
For More Information:
 
ONLINE:
 
 
BY PHONE:
Liquor Enterprise Service Center: 877-812-0013
 
CONTACT NAMES:
Bruce H. Burkholder
Alicia E. Zambelli


INDEX
  • COVID-19 RESOURCE GUIDE
  • WHAT WE KNOW: RESTAURANT & BAR UPDATE
  • CONDUCTING BUSINESS IN THE MIDST OF THE COVID-19 OUTBREAK
  • 3 SCARY TRUTHS ABOUT BECOMING AN ENTREPRENEUR
  • Gerber Spotlight: How to Handle Naysayers in Your Business
  • SELF-CARE RESULTS IN TAKING BETTER CARE OF YOUR BUSINESS. HERE'S HOW.
  • NAVIGATING CIRCUMSTANCE AS AN ENTREPRENEUR TO BECOME A BETTER LEADER
  • A day in the life of Randy Gerber
  • HOW TO PROPERLY GUAGE EMPLOYEE PERFORMANCE
  • MUST-HAVE APPS FOR BUSINESS OWNERS
  • THE HAPPINESS FACTOR & WHY IT MATTERS TO EVERY ENTREPRENEUR
  • PEER TO PEER GROUPS, MENTORS, ADVISORS: HOW DO THEY RELATE?
  • WHY YOU SHOULD ''DATE'' YOUR PROFESSIONAL ADVISORS (LAWYER, ACCOUNTANT, ETC.) BEFORE COMMITTING
  • GERBER'S TOP FOUR FAVORITE BOOKS FOR ENTREPRENEURS
  • IMPROVED COMMUNICATION FROM PERSONALITY TESTS [AS SEEN ON INC.COM]
  • 5 THINGS EVERY ENTREPRENEUR NEEDS TO DO TO KICK OFF THE NEW YEAR ON A GOOD FOOT
  • GIFT GIVING FOR THE ENTREPRENEUR-THE ULTIMATE TOUGH PUTT
  • SHOULD I TREAT MY LEADERSHIP TEAM DIFFERENTLY FROM A COMPENSATION PERSPECTIVE?
  • RECAP: NAWBO CANDID CONVERSATION ''5 TIPS FOR BUILDING A BETTER BUSINESS''
  • ONCE YOU'VE CROSSED THE FINISH LINE... HOW DO YOU FIND YOUR NEXT ENTREPRENEURIAL INSPIRATION?
  • THE MYTH OF CORPORATE CULTURE DEBUNKED
  • Gerber, LLC Featured in Columbus CEO | Let's Talk Succession
  • Catered Communication Practices [as seen on Inc.com]
  • REFRESH WITH V POWER YOGA
  • COFFEE TALK WITH TOM
  • ROLLIN' WITH FUSIAN
  • DIVING INTO BUSINESS WITH A PARTNER, OR TWO
  • IS IT TOO EARLY FOR AN ADVISORY BOARD? THREE STEPS TO BUILDING THE BEST NETWORK OF BUSINESS MENTORS
  • SUCCESS STARTS WITH A PLAN | GET IT ON PAPER
  • WATCH OUT FOR THE REVENUE TRAP! BUSINESS GROWTH & QUALITY REVENUE
  • BEHIND BESA WITH MATT GOLDSTEIN
  • BESA ON 'GIVING BACK' AS A BUSY BUSINESS OWNER
  • GOAL SETTING AS AN ENTREPRENEUR
  • FIRST GENERATION ENTREPRENEURS & WHAT MATTERS MOST
  • THE ROADMAP TO ENTREPRENEURSHIP
  • WHY ASKING THE RIGHT QUESTIONS CAN MAKE A DIFFERENCE: A CAUTIONARY TALE
  • AND THE WINNER IS...
  • CAPITAL MARKETS REVIEW: Q2 2016
  • BREXIT | WHAT DOES GERBER THINK?
  • CAPITAL MARKETS REVIEW: Q1 2016
  • CAPITAL MARKETS REVIEW: Q4 2015
  • CAPITAL MARKETS REVIEW: Q3 2015
  • CAPITAL MARKETS REVIEW: Q2 2015
  • CAPITAL MARKETS REVIEW: Q1 2015
  • CAPITAL MARKETS REVIEW: Q4 2014
  • Gerber Hosts OppenheimerFunds Chief Economist
  • Gerber, LLC to Host Entrepreneur-Relationship Expert, Trisha Harp
  • 'Twitter for Dummies' Co-Author Shares Marketing Advice at Gerber
  • Nationally-Circulated REP. Magazine Coins Gerber, LLC ''Not Your Momma's Financial Advisor''
  • Gerber Featured in 'The Metropreneur Columbus'
  • If you would like to be notified via email each time we publish a new blog or if you would like to be removed from our emailing list, please fill out the form below.







    Additional Comments: