dChan
Anonymous ID: 263448 July 22, 2020, 4:24 p.m. No.10049129   🗄️.is 🔗kun   >>9144

55% of businesses closed on Yelp have shut down for good during the coronavirus pandemic

 

As of July 10, 132,580 businesses listed on the Yelp YELP, +0.41% review site remain closed due to the coronavirus pandemic, according to its latest Economic Average report. The good news is, that’s a slight decrease from 140,000 closures last month, as phased reopenings in some places have allowed many businesses to operate again, even if in a limited capacity.

 

But while temporary closures have dropped, the number of businesses that have permanently shuttered is rising. Of all the business closures since March 1, 55% (or 72,842 businesses) will never reopen again, which is up from the 41% that Yelp reported in its Local Economic Impact Report just last month.

 

In other words, another 15,742 businesses listed on Yelp permanently closed between June 15 and July 10.

 

“Overall, permanent closures have steadily increased since the peak of the pandemic with minor spikes in March, followed by May and June,” the report reads.

Restaurants and retailers remain especially hard-hit. Restaurants listed on Yelp have suffered 26,160 total closures as of July 10, and 60% (15,770) have permanently closed — which is up 23% from June 15. And it’s been last call for more than four in 10 bars and nightlife spots (44%) listed on Yelp, that will also never reopen.

https://www.marketwatch.com/story/41-of-businesses-listed-on-yelp-have-closed-for-good-during-the-pandemic-2020-06-25