COVID-19 bankruptcies sparking concern among workers and shoppers
HOUSTON, Texas -- The cost of COVID-19 is more than some businesses can afford. This year, there have been many name-brand retailers, local shops and restaurants declaring bankruptcy or closing altogether.
Shoppers are sharing the heartbreak as fabled stores feel the effect of the pandemic. Coronavirus bankruptcies include J.Crew, Neiman Marcus and Pier One, just to name a few.
"I heard about it the other day, like, 'What? Really? Why?' Really [it's] everywhere you never would have thought," said shopper Sheldona Plumber.
Many favorite local restaurants have also closed. In Houston, go-to spots such as Barry's Pizza and Bernie's Burger Bus couldn't stay open.
"I know a lot of businesses are struggling. Big corporations and companies, you know, they depend on people to go in the store every day, and people are almost to afraid to leave home," said shopper
Logan Dougherty.
The Southern District of Texas bankruptcy court said business filings for bankruptcy are up. According to the court, Houston is one of the busiest Chapter 11 bankruptcy courts in the country.
As more and more businesses close or file for bankruptcy, people are wondering what the future holds.
Plumber asks, "Once [coronavirus] passes, then what's going to happen?"
The following businesses have announced bankruptcy during the coronavirus pandemic:
- Cirque du Soleil
- CMX Cinemas
- Gold's Gym
- Stage Stores (Parent company of Bealls, Goody's, Palais Royal, Peebles and Gordman's)
- Sur La Table
- True Religion Apparel
- Tuesday Morning
