60% of Yelp businesses that closed during the pandemic will stay shut permanently, report finds

More than 160,000 businesses listed on the online directory Yelp YELP, -5.35% have indicated that they closed since the onset of the pandemic in early March through Aug. 31. Some 60% of those are businesses that are permanently closing, Yelp reported in its September Local Economic Impact Report.

“Breakfast and brunch restaurants, burger joints, sandwich shops, dessert places and Mexican restaurants are among the types of restaurants with the highest rate of business closures,” the report said. “Foods that work well for delivery and takeout have been able to keep their closure rates lower than others, including pizza places, delis, food trucks, bakeries and coffee shops.

But even with government assistance programs aimed at helping small businesses weather the storm, many are cutting their losses and closing permanently.

That's awful. I feel bad for those businesses. Margins are always tight for restaurants so that makes it almost impossible to survive an extended shutdown or slowdown of business

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many governors shut their economies down and ruined so many livlihoods

Yeah..we were all getting fat eating out anyways.

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Almost 60 percent of business closures are now permanent, new Yelp data showsThe types of restaurants with the highest closure rates include breakfast and brunch places, sandwich shops, and Mexican restaurants. Ok DNC, let's get some commercials going informing the public of this travesty that didn't need to happen. Don't let me have tell the ProjectLincoln. They know what to do! This is unacceptable I've been screaming this for weeks.. that's how I knew the unemployment numbers we're being manipulated TrumpIsBankruptingAmerica TrumpIsBankruptingAmerica TrumpIsBankruptingAmerica TrumpIsBankruptingAmerica TrumpIsBankruptingAmerica TrumpIsBankruptingAmerica
Source: NBCNews - 🏆 10. / 86 Read more »

Yelp data shows 60% of business closures due to the coronavirus pandemic are now permanentYelp on Wednesday released its latest Economic Average report, revealing business closures across the U.S. are increasing as a result of the coronavirus. Yelp Fire jim Cramer. FireCramer Yelp The greatest economy ever. Yelp Thanks democrats.
Source: CNBC - 🏆 12. / 72 Read more »