I’ve written about Pluto in Capricorn killing business for ten years now (search). This week, I read that 53% of restaurants in the US, will not be opening post-coronavirus. I don’t know if it’s true or not but it sound about right. I would also expect the figure to rise.
I ran across this today:
I don’t think this can recover.
I also think, with all the lockdown… well, you don’t really need new clothes. Not going anywhere?!
Demand for all kind of things is dropping but demand for other things is rising.
Let’s say I need a lawnmower belt? Someone needs to make it. Perhaps the shop is still open but the materials are not available.
What do you see going on out there?
Thursday, February 5, 2009
Saturday, August 4, 2018
Monday, May 2, 2011
Friday, October 19, 2012
Exactly. Especially since no local replacement can occur since “small” business has and are being stomped.
Bigger stores are enforcing electronic transactions only.
I am really, really, not enjoying any of this at all.
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Saturday, March 19, 2016
Yep, I wonder about that, too. I addressed that in the Pluto in Aquarius thread. I think businesses (or the powers that be) will realize (or already have) how much they can save without buildings to power, and people to tend to a physical structure.
The price of in person human connection is being revealed…as expendable. It’s a very dark thought.
Thursday, February 21, 2019
Companies that have already filed for bankruptcy and / or structured reorganization:
Sears – K-Mart
La Sur Table
Macy’s, Nordstrom, Kohls, Victoria Secret, Bed Bath and Beyond, Bath and Body Works, Chico’s, Williams Sonoma and The Gap are all on shaky ground.
(*) — Looks like Pier1 is being considered by a private equity firm that specializes in e-commerce firms. If the proposal is approved by the shareholders, creditors and the bankruptcy trustee, Pier1 will become a 100% e-commerce retailer.
Target, CVS and Walgreens are closing under performing stores.
As for where a lot of these employees will end up, I think that depends on different parts of the country. Florida has been in an extremely tight labor market for the last four to five years. Just way more jobs than people to work all these jobs. With all these stores that are closing or have closed, NOW HIRING and HELP WANTED signs are spotted all over the state.
As for restaurants, again depending on the location………it seems that the big chains are the ones that are really hurting. I already miss Sweet Tomatoes. The local fare, if the food is good and the service is good, those seem to be the ones that will make it through all this.
A lot of these retailers are going to be in a world of hurt at year end and the holiday sale season is dismal.
Thursday, February 21, 2019
After all the business closures, the hot subject of commercial real estate…..oh boy. Simon Malls and Westfield Malls are already having a hard time collecting rent from their tenants. Even high end retailers, like Nordstrom, are coming up light on their monthly rent. Another area of concern with commercial retail space is the airports. Those rents are so astronomically high to begin with, and with demand for travel very low, how can those owners afford to keep their shops open — nobody is in the airport to shop.
This is going to be reflected on the financial returns associated with REIT’s. Not going to be pretty.