Killed By The Coronavirus Lockdowns: 1000s Of U.S. Businesses That Were Shut Down Will Be Closed Permanently

Posted by freedomforall 2 months, 3 weeks ago to Government
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A survey released Thursday by the James Beard Association found independent restaurants laid off 91% of their hourly employees and nearly 70% of salaried employees as of April 13 – double-digit increases in both categories since March. The poll of 1,400 small and independent restaurants found 38% of have closed temporarily or permanently, and 77% have seen their sales drop in half or worse.

Perhaps most troubling: 28% of restaurants said they don’t believe they can survive another month of closure, and only 1 out of 5 are certain they can sustain their businesses until normal operations can resume.

Neiman Marcus Group, one of the largest retailers in the United States, is reportedly ready to file bankruptcy amid the COVD-19 pandemic after defaulting millions in bond payments last week and furloughing 14,000 employees.

Neiman Marcus would become the first major US department store to crumble amidst the economic set backs from the coronavirus outbreak.

No, things are definitely not going to be returning to “normal” in America, and there will be a lot more big corporate names among the victims in the days to come.

I have been writing a lot about the absolutely massive lines that we have been seeing at food banks all over the nation, and we just witnessed another example in Miami. In one of the wealthiest areas of the entire city, vehicles were lined up for a mile as people waited patiently to receive handouts from a local food bank…

Talk about a Norman Rockwell painting idea come to life — a parade of cars filled with hungry people in Miami … smack dab in the middle of two of the city’s ritziest hotels.

Check out this surreal scene down in Miami Beach, where a MILE-long line of cars were arranged in a giant U-curve in between the W Hotel and Setai Hotel — two of MB’s most high-end go-to spots for celebrity out-of-towners … like Kim K, Justin Bieber and more.
SOURCE URL: http://themostimportantnews.com/archives/killed-by-the-coronavirus-lockdowns-1000s-of-u-s-businesses-that-were-shut-down-will-be-closed-permanently


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  • Posted by 2 months, 3 weeks ago
    Commercial/retail real estate should suffer a severe collapse. It has been on life support since 2008. Prices on retail buildings and rental space may drop more than 50%, imo.
    As usual since the creation of the fed in 1913, the banking cartel will be the biggest beneficiary.
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