The figure cited businesses in "FiDi" and "SoMa" that were both permanently or temporarily closed through the end of November -- though Mastercard noted some may have appeared closed ahead of Thanksgiving, according to a Wednesday report in SF Gate.
Although restaurants have struggled to find new ways to run in the city's downtown, following stringent COVID-19 health restrictions, workers aren't going into their offices anymore.
Those that have been able to remain afloat this far into the year have seen revenue decrease substantially. In a city known for sky-high rent, that can mean the difference between having a livelihood and not.
Although the Democratic-led metropolis has offered to waive some permit fees, allow businesses to build parklets for outdoor dining, and devised the Slow Streets program, stay-at-home orders will surely wreak more economic havoc.
According to a report from the National Restaurant Association, more than 110,000 restaurants have closed this year with over 10,000 shuttered within just the past three months.
"More than 500,000 restaurants of every business type -- franchise, chain and independent -- are in an unprecedented economic decline," he said. "And for every month that passes without a solution from Congress, thousands more restaurants across the country will close their doors for good."
Gov. Gavin Newsom's office didn't immediately respond to a request for comment from FOX Business.