The coronavirus pandemic and subsequent lockdowns have had devastating financial effects on numerous businesses and sectors. According to data collected by Yelp, roughly 180,000 businesses were closed by April and nearly 100,000 reported in August that they will never reopen. Restaurants, bars and nightlife venues have been hit the hardest, and retail and beauty businesses have also suffered major economic losses, with many permanently closing their doors.
And it’s not just small businesses that are suffering. A number of major companies have filed for bankruptcy since the beginning of the pandemic, including J. Crew, Gold’s Gym, Neiman Marcus, JCPenney, Pier