‘Tis The Season For Bankruptcies, Store Closings And Tent Cities…
We need to make 2021 a year of hope, because right now there is more economic suffering in America than we have seen since the Great Depression of the 1930s. More than 100,000 businesses have permanently closed down since the pandemic began, many of our most iconic chains have filed for bankruptcy over the past 12 months, and tent cities are popping up in major cities all across the country. Coming into this year, the suicide rate in the U.S. was already at an all-time record high, and a Gallup survey recently discovered that the mental health of Americans is at an all-time low. If we can’t find a way to give people hope, multitudes of Americans will decide that life is no longer worth living just like Anthony Quinn Warner did. The explosion in Nashville should be a wake up call for all of us, because there are countless others out there that are feeling the hopelessness that Warner did.
In 2020, we saw retail stores close their doors at a pace that we have never seen before. According to the New York Post, NYC lost more than 1,000 chain stores all by itself…
The Big Apple saw almost one in seven nationally recognized chain-store branches close their doors as the pandemic sent consumers scurrying for cover, according to a new report.
A record high 1,057 chain stores — including 70 Duane Reades, 49 Starbucks and 22 Papyruses — have waved the white flag over the past 12 months, according to the Center for an Urban Future’s annual “State of the Chains” report, set to be released Wednesday.
If you go back to 2018, 0.3 percent of all chain stores in the city shut down permanently.
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