Retail Outlets Begin To Abandon New York City In Mass as Coronavirus Lockdown Kills Business

Retail outlets are now reportedly beginning to abandon the big Apple, and in particular Manhattan, in droves as the brutal economic effects of the coronavirus lockdown continues to take its toll.

As reports:

The tourists are gone, the office towers surrounding it are largely empty and the restaurant’s 1,000-seat dining room is closed. Instead, dinner is cooked and served on its patio, and the scaled-down restaurant brings in about $12,000 a day — an 85 percent plunge in revenue, its chief executive said.

Five months into the pandemic, the drastic turn of events at businesses like Bryant Park Grill & Cafe that are part of national chains shows how the economic damage in New York has in many cases been far worse than elsewhere in the country…

Michael Weinstein, the chief executive of Ark Restaurants, who owns Bryant Park Grill & Cafe and 19 other restaurants, said he will never open another restaurant in New York…

“There’s no reason to do business in New York,” Mr. Weinstein said. “I can do the same volume in Florida in the same square feet as I would have in New York, with my expenses being much less. The idea was that branding and locations were important, but the expense of being in this city has overtaken the marketing group that says you have to be there.”

It seems that businesses are finally fed up with New York’s high cost of doing business and draconian lockdowns. Whether this will force New York’s ultra-liberal mayor, Bill De Blasio, to change course however remains to be seen.



Latest Comments

  1. ANNA August 17, 2020
  2. John J August 16, 2020
    • fradoo August 18, 2020
  3. LES August 16, 2020
    • vietvet August 16, 2020
  4. john todd August 16, 2020
  5. Walkin O'Shea August 16, 2020
    • john todd August 16, 2020
      • Walkin O'Shea August 16, 2020
  6. Kenneth Barr August 16, 2020
    • john todd August 16, 2020
  7. George Henson August 15, 2020
  8. Randy131 August 15, 2020
  9. Tim Kuehl August 15, 2020
    • Philip Byler August 15, 2020
  10. Star Dolittle August 15, 2020
  11. Alan August 15, 2020
  12. Gene Ralno August 15, 2020
    • Frank Lee Annoid August 16, 2020
  13. Mel August 15, 2020
    • John Kent August 15, 2020
    • old man coyote August 15, 2020
      • JDN August 16, 2020
    • Ronda Read August 16, 2020
      • BeenThere53 August 16, 2020
        • Patriot1951 August 16, 2020