I’m willing to bet all of them are now discussing which locations will not reopen or open and immediately liquidate that location. The longer this drags on the less likely they will have jobs to return to.
Companies like Macy’s have been closing stores for years now, I believe this will accelerate that trend.
You might say their business models are elderly and they suffer from underlying financial health conditions.
Macey’s has been dying for years. The only thing they got going is the Macy’s parade.
People are ordering online and this was happening before any virus took hold. My husband worked for Sears, 30 years. There is no more Sears.
My niece rents space in a retirement home for her beauty salon. She got closed down, but of course.
They asked her for March rent.
She managed to rent a table from another beauty salon but she told her landlord of over ten years that since she’s making no money she can’t pay rent.
Landlord tells her lease stipulates she pays so much per month for rent. She’s crying all over the place.
Time for Aunt Pat (that would be me) to step in. I told landlord that the lease also says they must PROVIDE the space, which they’re not doing.
I said let this go over, my niece would very much like to come back, but we will have to discuss, obtain small business grants, work it out.
This virus is hastening a lot of changes that were happening.
We’re all improvising and not doing half damn bad I might add.