A Sad Day In America –Many Businesses Forced Into Bankruptcy And Store Closures

Photo by Anastasiia Chepinska on Unsplash

 

These past few months, many businesses have taken a beating as they’ve been forced to adapt to a socially distant world.

From mandatory government regulations to losing a huge customer base due to mandatory stay-at-home orders – many businesses simply could not withstand the hit.

As a result, some well-known franchises have been forced to file for bankruptcy while other local businesses were left no choice other than to shut their doors for good.

With more and more “closed” signs lining hometown storefronts, many Americans are starting to comprehend the devastating results mandatory stay-at-home orders have had on their favorite businesses.

 

Fast Food Establishments

Just this month, NPC International, the operator of nearly 1,200 Pizza Huts and 400 Wendy’s filed for bankruptcy.

The group which employees 40,000 people throughout 27 states plans to stay open for now and operate as scheduled, but who knows how long they’ll make it.

While leftist chains jumped on the anti-family bandwagon and donated to abortion giants like Planned Parenthood, it was Wendy’s who shone like a bright light promoting pro-life policies like adoption and even donating $500,000 toward adoption programs.

But now, some families will find a dark boarded up building should they venture out to get a local frosty at their hometown Wendy’s.

 

Fitness Centers

24-Hour Fitness is permanently closing 130 gyms as mandatory COVID-19 closures forced them to shut down their locations during the government stay at home order.

And with no revenue coming in from customers, their revenue is basically non-existent.

While some states decided to shut down gyms altogether – others limited operating capacity to a small number which made it unsustainable for places like 24-Hour Fitness to make it.

Likewise, long-standing vitamin shop GNC has also filed for bankruptcy and plans to close 1,200 stores.

 

Jewelry Stores

More than 400 Zales, Piercing Pagoda, and Kay Jewelers stores are slated to permanently close.

Some of these jewelry stores were shut down during the pandemic and have not reopened since, and others will continue to close by the end of the fiscal year.

With people opting to shop online, these brick and mortar stores lost business and were not able to meet sales goals.

 

Retail Chains

Many known retail companies have filed for bankruptcy including Neiman Marcus, J.Crew, and J.C.Penny – just to name a few.

People reported:

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“In an official statement, chairman and CEO Geoffroy van Raemdonck said, “Like most businesses today, we are facing unprecedented disruption caused by the COVID-19 pandemic, which has placed inexorable pressure on our business.”

Only time will tell how many other retail stores will be forced to do the same.

 

Local Businesses

While you may recognize the names of many of these retailers, there are thousands of other businesses all around the country that are locally owned and are suffering under this current economic downturn.

If you can, purchase takeout from your local food joints and shop local!

These businesses are run by real people with families (likely who live in your neighborhood) and they are facing unprecedented challenges.

With the unstable and volatile political climate, one can only expect more stores to close in the near future.

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