Industry analysts and restructuring experts say another wave of restaurant bankruptcies is looming, as government funds run out and the cooler months roll around, making outdoor dining less viable.

Restaurants have so far limped along through the worst of the coronavirus pandemic. But key pillars of support for their businesses will soon evaporate, spelling disaster for the eateries — and their landlords.

The pandemic has, essentially from its inception, upended the restaurant industry, sending sales plunging in the early days of lockdowns. The National Restaurant Association estimates it lost $165 billion in sales between March and July, and Yelp data showed 15,770 permanent restaurant closures, as of July 22.

Restaurant sales cautiously rebounded in the summer months, driven by outdoor dining and cooking fatigue. But the approaching cold weather could halt or even reverse progress. Industry experts don’t expect a full recovery until a coronavirus vaccine is available.

“If it’s a bad Covid winter, it’s going to be a horrible winter for restaurants,” said Tom Mullaney, head of restructuring services at commercial real estate services firm JLL.

Industry analysts and restructuring experts say another wave of restaurant bankruptcies is looming. Government funds are running out and the cooler months across much of the U.S. are getting closer, making outdoor dining a less viable option for the many businesses that have been reliant on balmy summer temperatures to stoke sales.

As they wait in limbo, some restaurant landlords have struck short-term deals with their tenants, dramatically slashing base rent and asking for a percentage of sales instead. If not, they risk losing rent until a new tenant moves in. And, increasingly, those new tenants are hard to come by. Not many restaurant chains, with the exception of some fast-casual chains like Chipotle Mexican Grill, have ambitious growth plans today.