Restaurant Closed in Nicaragua

In a context of falling production, the restaurant La Marseillaise, which operated in the country's capital, announced that it will temporarily close its facilities.

Monday, February 17, 2020

The French food restaurant, which had a capacity to serve 150 people and had been operating in Managua for more than four decades, made its closure official in a brief statement.

See "Restaurants: What do Costa Ricans Prefer?"

Lucy Valenti, president of the National Chamber of Tourism (Canatur), told that "... It is regrettable that a restaurant with such a tradition and that for so many years was able to maintain, even in the difficult years of the eighties, but that now is being forced to close because of the crisis they are experiencing due to economic difficulties, the pressure of both tax and Social Security increases... It is one more result of the socioeconomic crisis the country is going through."

The article adds that "... René Hauser, president of the Managua Restaurant Association and owner of the restaurant, had already warned on December 19 that the situation of the sector in general was not positive. The behavior of sales as of November 30, 2019 for restaurants that are in a better situation than others was recorded between 20% and 30% and for businesses that are in a worse situation up to 50% below sales for the same period in 2017."

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Nicaragua: Tourism Revenues Go Down 56%

July 2019

During the first quarter of 2019, tourism revenues totaled $113 million, 56% less than reported in the same period of 2018, because of the crisis that the country has been going through for more than a year.

According to figures from the Central Bank of Nicaragua (BCN), between the first quarter of 2018 and the same period of 2019, tourism revenues decreased by $143 million, from $256 million to $113 million.

Million-dollar Losses for Tourism

February 2019

Because of the crisis affecting the country since April last year, it is estimated that during 2018 the losses of the Nicaraguan tourism sector totaled $440 million, and more than 62 thousand jobs disappeared.

The arrival of tourists to the country is another figure reporting a considerable decline last year, since between 2017 and 2018 the number of visitors who came to Nicaragua fell 55%, going from 1.7 million to 800 thousand.

Fast Food Restaurants Closing in Nicaragua

October 2018

Managua's restaurant trade association reports the closure of at least 700 fast food restaurants in recent months.

According to representatives of the Association of Restaurant Owners of Managua, due to the low levels of sales reported in recent months, at least 700 restaurants have closed their operations.

Nicaragua and Losses in the Tourism Sector

April 2018

Due to the crisis affecting the country, the tourist sector union estimates that hotels, hostels and restaurants are facing losses of around $100 million.

As a result of the social crisis that the country has been suffering from for two weeks, representatives from the National Chamber of Tourism of Nicaragua (Canatur), reported that for the next few days hotel reservations have been canceled almost in their entirety, while restaurants are working at 15% capacity. 

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