Permanent Business Closures
According to Yelp, 163,735 businesses have reportedly closed. This is a 23% increase since their last report in July. Yelp has also been tracking businesses that report their closures as permanent. So far 99,966 businesses have reported that they will not be reopening.
Non-Essential Businesses
The vast majority of the businesses that are permanently closing their doors have been directly impacted by the shelter in place mandates. Bars, restaurants, salons, clothing stores have been much harder hit than other services that are deemed essential.
Restaurants that were not already well set up to provide takeout or delivery services are far less resilient than those who already had contracted delivery providers.
According to Yelp, Hawaii and California are the two hardest hit states when it comes to business closures.
For more information about bankruptcy and your business closure contact your Fairfield bankruptcy attorney at 707-385-0422.
Categorized in: News