Iconic Businesses Closed Because of Coronavirus
On April 21, congressional leaders reached a bipartisan agreement on an aid bill that will provide nearly $500 billion in relief, most of it to small businesses hurt by measures taken to curb the spread of COVID-19. The coronavirus pandemic has had a devastating impact on businesses of all sizes. Just as smaller companies are struggling to stay afloat, large, well-known corporations have had to lay off or furlough tens of thousands of employees as they have shut down locations across the country.
As a result of social distancing guidelines, companies that have been American institutions for decades are suddenly closed. 24/7 Wall St. compiled a list of famous businesses in the United States that have closed their doors either temporarily or permanently because of the impact of the coronavirus.
Nationwide retailers, iconic restaurants, and major entertainment brands are doing their best to try to survive the economic downturn. Some are able to offer delivery services, but companies in live entertainment, fitness, and other industries have seen their revenue decline to virtually nothing.
For brick-and-mortar retailers, the pandemic is just the latest blow. The sector had 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.