MCLEAN, VA – The International Foodservice Distributors Association (IFDA) expects the foodservice industry to suffer $24 billion in losses over the next three months as the coronavirus (COVID-19) pandemic takes its toll.
In an effort to lessen the financial impact, IFDA and FMI – The Food Industry Assocation, Arlington, Va., launched a match-making partnership connecting foodservice distributors with excess product, transportation and/or warehouse capacity with grocery retailers and wholesalers that need additional resources to fill grocery stores.
IFDA is also hoping for additional assistance from the US government.
“Right now, we have heard reports from distributors that business has declined up to 50%. 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,” IFDA said.
“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.”
Last week, the IFDA wrote a letter to President Trump requesting that he work with Congress to provide the industry with financial relief. So far, the industry has not been included in legislation being discussed between the Trump Administration and Congress.