Over 55% of Closed Businesses Won’t Reopen
(UnitedVoice.com) – When governors ordered businesses closed and told citizens to stay home to combat COVID-19, they refused to heed President Trump’s warning. In April, Trump said the cure couldn’t be worse than the disease. Yet, for many Americans, that’s precisely the case.
Not only are millions of Americans out of work, businesses that closed their doors in March, at no fault of their own, paid the ultimate price. In a new report by Yelp, between 55% and 60% of the businesses on its website that were listed as closed temporarily are now permanently out of business.
It’s not just small businesses, either. Larger companies struggled to stay afloat due to social-distancing restrictions and fearful consumers, as well. According to Yelp, the largest number of permanent closures are in California, New York, and Texas. They’re also the states currently experiencing some of the highest infection and hospitalization rates. Only 24% of the businesses that closed in March and April nationwide have reopened. Restaurants were the most-affected businesses with 26,160 permanent closures. Retail stores were second with 26,119.
As of July 10, over 132,500 businesses were still marked as closed on Yelp’s platform. As some states put new restrictions in place, the COVID-19 pandemic is far from over.
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