@Shop-et-al wrote:
Thank you. I might be better acquainted with you now than I was earlier today. Apparently, you are the sort of person who would rather throw out an insult than go to the referenced source material. Glad to know you, ma'am or sir. Perhaps someday we will have a topic to discuss.
@Shop-et-al wrote:
There is too much background to put in a post, but all the information is in the world's long, large, and sometimes atrocious history.
@bgriffin wrote:
holymotherofGodIdidn'tknowitwaspossibletobeevenMOREvagueandtalkinMOREcirlces.
@pegc wrote:
You just can't fix crazy ...
@bgriffin wrote:
holymotherofGodIdidn'tknowitwaspossibletobeevenMOREvagueandtalkinMOREcirlces.
@pegc wrote:
.. not just following a narrow party line. Try reading a book and/or newspapers instead of watching ancient tv shows and you might just open your mind and learn something ...
@ wrote:
The coronavirus pandemic is emerging as an existential threat to the nation’s small businesses — despite Congress approving a historic $700 billion to support them — with the potential to further diminish the place of small companies in the American economy.
The White House and Congress have made saving small businesses a linchpin of the financial rescue, even passing a second stimulus for them late last month. But already, economists project that more than 100,000 small businesses have shut permanently since the pandemic escalated in March, according to a study by researchers at the University of Illinois, Harvard Business School, Harvard University and the University of Chicago. Their latest data suggests at least 2 percent of small businesses are gone, according to a survey conducted May 9 to 11.
The carnage has been even higher in the restaurant industry, where 3 percent of restaurant operators have gone out of business, according to the National Restaurant Association.
Tearful, heartfelt announcements about small-business closures are popping up on websites and Facebook pages around the country. Analysts warn this is only the beginning of the worst wave of small-business bankruptcies and closures since the Great Depression. It’s simply not possible for small businesses to survive with no income coming in for weeks followed by reopening at half capacity, many owners say.
@ wrote:
Of small and medium-sized businesses that have been forced to shut down during the coronavirus pandemic, more than half of owners surveyed by Facebook said they won’t rehire the same workers they had before the crisis.
In a report released Monday, Facebook said it surveyed 86,000 small and medium-sized business owners, managers and employees for an ongoing data initiative with the World Bank and Organization for Economic Cooperation and Development. The report highlights the lasting economic impact of the coronavirus and the especially dire effect it’s having on smaller businesses without the same level of access to capital that larger corporations often have.
According to the report, only 45% of owners and managers of small and medium-sized businesses surveyed by Facebook said they would rehire the same workers they were forced to let go or furlough once they reopen. If that estimate holds true for similar businesses across the country, it could devastate predictions for a swift economic recovery from the crisis.
About a third of closed businesses surveyed said they do not expect to reopen, with many citing an inability to pay bills or rent.
I mostly only went to the Starbucks at my campus job or Target, while getting my more frequent coffee at home or at Panera, but still sad to hear their mighty chain is not immune. One just opened up near me too. Very nicely designed. Would be sad to see that building to torn down.@ wrote:
It has begun.
As soon as the pandemic hit, restaurant-industry experts knew that many restaurants wouldn't make it through. On April 1, UBS predicted that one in five restaurants may close as a result of the pandemic.
While independent restaurants have been hit much harder than many chains, chains aren't immune. Chains often rely on independent owner-operators to run restaurants, and these franchises often don't have the same robust financial resources of the brands they represent. On Wednesday, Starbucks became the latest chain to announce a wave of permanent closures in its latest SEC filing.
Ruby Tuesdays - sad to see them closing a bunch. At one point in time, they were my go-to restaurant for the salad bar (about 8 years ago?). They wore off on me, however, with better salad bar options elsewhere.@ wrote:
TGI Fridays: as many as 20% of the chain's 386 restaurants
Steak 'n Shake: 51 restaurants
Sweet Tomatoes/Souplantation: all 97 restaurants
Denny's: 16 restaurants
Brio Italian Mediterranean and Bravo Italian Cucina: 71 restaurants
Specialty's Bakery and Cafe: all 33 restaurants
Ruby Tuesday: 147 restaurants since January 23
Le Pain Quotidien: up to 63 out of 98 restaurants
IHOP: at least 49 restaurants in Virginia, North Carolina, South Carolina, and Tennessee
Starbucks The coffee chain announced in its June 10 SEC filing that it would close up to 400 company-owned stores in the next 18 months in the US, and up to 200 in Canada. However, the closures will be offset by the development of new stores, bringing the total number of Starbucks stores up by a net 300 locations by the end of the 2020 fiscal year.
Walmart surprised me. Really? Figured they'd be one of the few to thrive.@ wrote:
Retailers are expected to close more than 4,300 stores this year, following record-high rates of closings last year.
More than 9,300 store closings were announced in the US in 2019, smashing the previous record of roughly 8,000 store closures in 2017, according to an analysis by Business Insider.
The number of store closings this year could be even higher than previous records, according to estimates from the real estate firm Cushman & Wakefield. The firm estimated last year —prior to the coronavirus pandemic — that as many as 12,000 major chain stores could close in 2020.
Pier 1 Imports: 450 stores
GameStop: 320 stores
Signet Jewelers: 300 stores
Papyrus: 254 stores
Victoria's Secret: 238 stores
Gap: 230 stores
Tuesday Morning 230 stores
Walgreens: 200 stores
Chico's: 200 stores
Wilsons Leather and G.H. Bass: 199 stores
Destination Maternity: 183 stores
Forever 21: 178 stores
JCPenney: 162 stores
Modell's: 153 stores
A.C. Moore: 145 stores
Macy's: 125 stores
Art Van Furniture: 125 stores
Bose: 119 stores
Guess: 100 stores
Olympia Sports: 76 stores
Sears: 51 stores
Earth Fare: 50 stores
Bath & Body Works: 50 stores
Kmart: 45 stores
Bed, Bath & Beyond: 44 stores
Lucky's Market: 32 stores
Express: 31 stores
Neiman Marcus: 20 stores
Nordstrom: 19 stores
Hallmark: 16 stores
Walmart: 3 stores
Yeah, mall retail has been dying, but strip mall retail has been fine.@Shop-et-al wrote:
I have been following retail history and news for years and years... and this is not a surprise. Some stores will be missed! Others, I never experienced. Fortunately, I can still shop online with various remaining stores and brands.
I rarely had mall shops. Sarku was one of them and there were some chicken, taco, and dessert food shops in malls. No clothing, jewelry, etc. shops (at least, not in my area that I know of). There is only so much food one can eat, so mall closings wouldn't have affected me much.@ wrote:
So, what will become of the erstwhile busy malls? Will we be paid to check the empty locations and verify that no remaining traces of the former occupants remain? Will someone tear down the structures? Are any malls on arable land?
from today's Wall Street Journal: [www.wsj.com]@ wrote:
'An estimated 3% of U.S. restaurants have closed for good since the start of the crisis, according to the National Restaurant Association. The trade group expects tens of thousands of restaurants will shut as a result of the pandemic.'