The COVID-19 pandemic is threatening to upend the economic order of the United States, causing upheaval in industries such as real estate, hospitality, retail, and transportation to name but a few.
Many of the casualties of this unprecedented disruption are famous and beloved companies that are closely associated with the communities they serve. 24/7 Wall St. has compiled a list of famous businesses in the United States that are closing their doors either temporarily or permanently because of the impact of the coronavirus. We included restaurants that have closed dining rooms and may have switched to takeout because these establishments are known for their ambience and decor as well as their food.
In previous crises — wars, natural disasters, financial downturns, and other unfortunate events — some businesses were able to bounce back and continue as they were. Many had to adapt their business model to a new reality. Still others never recovered and vanished. It is too early to say what will happen with the businesses on this list.
Retail brands such as Tiffany and Macy’s were included because their landmark flagship stores were shuttered. For retailers, the pandemic is just the latest blow as the sector has already been struggling with the consumer shift to e-commerce and away from physical stores. Here are some other U.S. industries being devastated by the coronavirus.