The Official "Business Destroyed By Lockdown" Thread

[whiskey6gun]

WRTV-6 Just posted an article about restaurant closures in Indy. Some of these have already been covered in the thread:

https://www.theindychannel.com/news...businesses-permanently-closed-due-to-covid-19

Bravo! at 86th and Township Line along with Brugge Brasserie in Broad Ripple are two new additions, it looks like. Unless I missed them upthread.

I’ll miss Brugge. We liked to share a bucket of muscles and a few of their beers.

Not that Broad Ripple is short on bars now, but I did like Old Pro’s Table for their fire in the winter.


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[IndyBeerman]

Pier 1 to go out of business, permanently close all 540 stores

Pier 1 has been sliding downhill for quite some time, failing to adapt as it lost business to Wayfair and Amazon. Stock price was down 67% to 14 CENTS.

I wish people would stop classifying all businesses filling for bankruptcy or going out of business as being the result of .COV-19.


Next thing we know, a gun shop will close down because a owner over extended himself with a horrible lease, and some really bad business decisions and that'll get blamed on COV-19 also.

 

[GLOCKMAN23C]

Clayton Café in Clayton, IN.

 

[hopper68]

Jasper has lost a few small bakeries and Obermeyer Honda (bikes) is shutting down.

 

[Hoosierkav]

<snip>
I wish people would stop classifying all businesses filling for bankruptcy or going out of business as being the result of .COV-19.

There will be plenty of politicized closings... President Trump's inaction and incompetence caused billions and billions of dollars of economic devastation--see, all these closed businesses! It will take real journalism to sift through the lists of "affected" businesses to show the reality.

 

[DoggyDaddy]

Wasn't sure if this should go here, or in the Coronavirus IV thread, but since it's business related, I thought this was the best place. As has been mentioned, the city (Indy) is closing some streets and sidewalks to allow restaurants to have outdoor seating. While this sounds great for the restaurants, other businesses are not happy about it.

"After learning about the street closure, a group of Mass Ave businesses have come together to send a letter to the city, saying that the closure should be immediately halted because they were blindsided by the news.The group of businesses feel that the street closure decision was made "with no input or regard for the people it will impact.""

There's a copy of a letter near the bottom of the article that represents the view of some of these businesses.

https://www.wthr.com/article/streets-closing-dozens-restaurants-getting-ready-reopen

 

[bwframe]

...I wish people would stop classifying all businesses filling for bankruptcy or going out of business as being the result of .COV-19...

Your sentiment is understood. However, there is no denying that the lockdown has finished off many businesses that may well have restructured, recouped or revamped to find a successful business plan.

Another argument here is that the virus and the lockdown are two different things. Much further study is needed to separate the virus, the lockdown and the ensuing fear that took away the sales that some frail businesses were just barely hanging on by.

It'll be interesting to study places like South Dakota and Sweden who did not lock down. How did their businesses fare, that weren't affected by outside factors?

It's easy to forget that just two months ago the overall business future was so bright, we all had to wear shades.

 

[MCgrease08]

Wasn't sure if this should go here, or in the Coronavirus IV thread, but since it's business related, I thought this was the best place. As has been mentioned, the city (Indy) is closing some streets and sidewalks to allow restaurants to have outdoor seating. While this sounds great for the restaurants, other businesses are not happy about it.

"After learning about the street closure, a group of Mass Ave businesses have come together to send a letter to the city, saying that the closure should be immediately halted because they were blindsided by the news.The group of businesses feel that the street closure decision was made "with no input or regard for the people it will impact.""

There's a copy of a letter near the bottom of the article that represents the view of some of these businesses.

https://www.wthr.com/article/streets-closing-dozens-restaurants-getting-ready-reopen

Government bureaucrats making a decision "with no input or regard for the people it will impact?"

No way. I'm shocked. Shocked I say.

 

[DoggyDaddy]

Government bureaucrats making a decision "with no input or regard for the people it will impact?"

No way. I'm shocked. Shocked I say.

IKR? I was skeptical when I first heard about it (my concern was changing traffic patterns due to closed streets though), and said so here, but was criticized by some. Apparently I was not alone. I know their intentions were good (for the restaurants at least), but when it comes to paving, I thing .gov should probably stick to asphalt.

 

[BehindBlueI's]

https://www.usatoday.com/story/money...us/5231836002/

L Brands is shuttering 250 (to start) Victoria's Secret locations. (Insert joke about lingerie half off here) and 50 Bath & Body Works. VS has been struggling for awhile as they kind of wavered on branding and market position. I don't know about Bath & Body Works but apparently they are actually doing pretty well. The goal seems to be to uncouple them and then let VS/Pink live or die on it's own (or, more likely, plunder it for it's assets and let the remnants sink).

 

[DoggyDaddy]

https://www.usatoday.com/story/money...us/5231836002/

L Brands is shuttering 250 (to start) Victoria's Secret locations. (Insert joke about lingerie half off here) and 50 Bath & Body Works. VS has been struggling for awhile as they kind of wavered on branding and market position. I don't know about Bath & Body Works but apparently they are actually doing pretty well. The goal seems to be to uncouple them and then let VS/Pink live or die on it's own (or, more likely, plunder it for it's assets and let the remnants sink).

I think when VS changed their focus from sexy lingerie to frumpy sweats (PINK) it was the beginning of the end.

 

[BehindBlueI's]

I think when VS changed their focus from sexy lingerie to frumpy sweats (PINK) it was the beginning of the end.

PINK is it's own thing for marketing and branding purposes. VS is actually kind of an interesting case study on branding, which is the only reason I'm aware of all the back story leading up to this. The original image they were going for was upscale, the classy woman's sexy behind closed doors sort of thing (hence the "secret" part of the name and Victoria was chosen due to Queen Victoria and the elegance/sophistication of the Victorian era. The founder built a brand but couldn't figure out how to make money on it and sold it (and eventually killed himself after failing at a different business venture). The new owner figured out how to keep the image but make it more shopper-friendly and profited. Clothing chains have to constantly evolve as fashion trends change, and VS found themselves chasing a lot of different markets as they tried to do that. They tried to capture the swimwear market, leisure athletics, cosmetics, etc. The image started to become more "stripper" and less "classy" and they were losing their upper scale brand image. PINK was a way to keep the tween market buying VS but letting VS return to the original imaging. PINK kept the leisure athletics, swimwear disappeared, and on the books the cosmetics are their own division even if they lack their own branding and stores. There's, of course, a lot more to the story but that's the framework.

It's a tough business and it's one involving a lot of guesswork, in the long term you're almost inevitably going to jump wrong and then have to weather it out for awhile. VS has jumped a lot of times recently and has weathered about as much as it can.

 

[DoggyDaddy]

BBI, it's a little disturbing how much you know about a women's underwear company. But what you say makes sense.

 

[MCgrease08]

Mayor de Blasio Claims NY Businesses Are Doing Fine and Can Stay Closed For Months

New York Mayor Bill de Blasio told a New York radio audience businesses in the city are “hanging on” and they’ll be able to stay closed for several months.

“I’ve talked to lots and lots of business leaders, especially the smallest businesses. They’re very worried about their futures understandably, but they also are hanging on and they know it can be a matter of months until they’ll be back in action,” de Blasio said on WNYC Friday.

Meanwhile, back on planet earth, The National Restaurant Association predicted that 11 percent of New York’s 25,000 restaurants will permanently close by the end of May and the entire travel and leisure industry will lose up to 68 percent of its jobs.

 

[JettaKnight]

That place was totally looking run down, so having it completely close isn't a shock.


Caliente is not reopening. Now that is a shock since their business was doing great in their new location. But, Gus and Yaly just don't have it in them to weather the storm. It's unfortunate because I don't know any harder working restaurateurs.

From death, comes life.


Big Apple Pizza (which I love!) will move into that location (which used to be Toscani's). They'll give Pint 'n Slice a run for their money.

 

[Dutchisaurus]

Is cheesecake factory closing for good? I keep seeing ads talking about restraunts we've lost and it always shows cheesecake factory.

"If you can loot in person, you can Vote in person" -Me

 

[LockStocksAndBarrel]

Fireside is not out of business. Opening May 18.

https://www.953mnc.com/2020/05/15/fireside-tap-and-grill-owner-says-they-are-re-opening-on-monday-may-18/

Good!

Oh boy. It burned a couple of days later...

 

[JettaKnight]

Is cheesecake factory closing for good? I keep seeing ads talking about restraunts we've lost and it always shows cheesecake factory.

In everyone's minds, it's been closed for years.

 

[Dutchisaurus]

Lol. I fiddle with stocks on Cash App and it keeps showing up, but I keep seeing it supposedly closing.

DO I invest or not ugh. So confused

"If you can loot in person, you can Vote in person" -Me

 

[ghuns]

Oh boy. It burned a couple of days later...

I asked an Eye-talian friend from the 'Burg, with a family history in the restaurant biddness, and a family history of said restaurants burning down, where he was that day.

He said, no comment.