Bankruptcy Watch

Maison Kayser files:

[www.msn.com]

The article also talks about the other restaurants the likely buyer, Aurify, owns. I had no idea they owned Five Guys in NYC.

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I'm betting there will be lots of travel industry and restaurant industry bankruptcies and permanent closings.

In this poll of 100 millionaires on what they like to spend money on the most, the top 5 most common were
[www.businessinsider.com]
1. Travel; 2. Eating Out; 3. Cars; 4. Wine; 5. Clothes

Studies and surveys consistently show that the wealthy do not wish to expose themselves to the virus and are not going out to spend as much. The easiest way to expose yourself is probably through a restaurant or crowded travel.
From a mystery shopping perspective, what percentage of shops were in the travel industry?

I rarely saw hotel and cruise shops. They were unicorns in terms of emails I got. Plenty of restaurants, though. Those will be dearly missed.

Dining out was the most enjoyable part of ms-ing for me. My family members enjoyed it too, as I treated them to shops of restaurants they liked or wanted to try and didn't want to pay for.
For me 90%. Most of the assignments were via direct contact with schedulers, no emails went out.
Town Sports International, owner of New York Sports Club, Lucille Roberts, Boston Sports Club, and other brands, filed Chapter 11 bankruptcy today.
[www.reuters.com]

The article points out that Gold's Gym filed in May.
@MMMM wrote:

For me 90%. Most of the assignments were via direct contact with schedulers, no emails went out.
Interesting, MMMM.

Also, I meant what % of all shops that exist are travel industry-related rather than what % of those were that way for any one particular person. grinning smiley But, that's still interesting to know, nonetheless! I think I was just trying to gauge how big of a hit MS-ing might take from what I expect will be the hardest hit of all business industries.
Steinmart filed. They have been having a going-out-of-business sale, but it is in-store only, not online.
The famous NYC bar, Coyote Ugly, has closed. Rent renegotiations were a no-go: [ny.eater.com]

A movie was made some years ago based on this bar.

Edited 1 time(s). Last edit at 09/15/2020 11:41PM by Susan L..

[www.cnbc.com]
Yelp shows 60% of business closures from COVID are now permanent. Slightly different topic, but kind of related. Hawaii and California are the hardest hit so far.
@shoptastic wrote:

[www.businessinsider.com]

Sizzler files.

This article also mentioned California Pizza Kitchen was another restaurant chain that filed.
In the first several weeks we had over 200 restaurants close for good in this state which is not heavily populated. While I thought we had too many eateries I did not want them to have to close this way.
California looks like they arecreally having a hard time. I expected New York and New Jersey to have shown a rougher time than these stats show, so I take whatever "good news" I can.
@Susan L. wrote:

California looks like they arecreally having a hard time. I expected New York and New Jersey to have shown a rougher time than these stats show, so I take whatever "good news" I can.
possibly wildfires-related too
Also, Hawaii could be hurting for a long time. It's disconnected from the U.S. and requires a plane to get to, which no one is taking these days! And it relies heavily on tourism for its economy. sad smiley It's the perfect storm to crush Hawaii!
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