Some landlords are adjusting rent, while others hold firm. Their decisions are reshaping New York City’s neighborhoods.
As the pandemic accelerated the demise of some brick-and-mortar retailers, a group of investors profited handsomely from their travails.
Since March, more than 2,800 businesses in the city have permanently closed, and others are barely holding on. Even national chains are leaving.
The retailer is seeking court approval of a $325 million sale to a group backed by the mall owner Simon Property Group and Authentic Brands Group, a licensing firm.
Some national chains, both retail and restaurants, are closing outlets in New York City, which are struggling more than their branches elsewhere.
Book sales jumped this spring at big-box stores, which stayed open and stocked essentials while other shops closed.
Boohoo was one of the fastest-growing retailers in Britain. Now the company is in trouble after revelations about working conditions in supplier factories.
After months of a devastating outbreak, the city is officially back in business, with as many as 400,000 people returning to work.
Businesses ranging from national chain stores to neighborhood pizza shops have been damaged in the wake of George Floyd’s death. Stunned store owners were still assessing their losses.
Gerald Timothee walks miles everyday to deliver groceries, taking every precaution against the coronavirus. He rarely sees his customers anymore.
It was one of the first retailers to temporarily close as the coronavirus spread. But now, it has lost half of its sales in North America and is looking at a transformed landscape.
Here’s why some everyday staples have disappeared from shelves as the crisis changes how people shop and eat.