The Official "Business Destroyed By Lockdown" Thread

[HoughMade]

I asked an Eye-talian friend from the 'Burg,...

We did everything we could to run the garlic eaters out of town in the ‘70s.

 

[ghuns]

We did everything we could to run the garlic eaters out of town in the ‘70s.

You'd likely know the last name if I said it. My buddy's grandpa was quite the character and quite well know in the greater 'Burg/Elkhart area.

 

[HoughMade]

You'd likely know the last name if I said it. My buddy's grandpa was quite the character and quite well know in the greater 'Burg/Elkhart area.

To be clear...I was joking. I probably would know the name.

It’s sad. I have no real connection with the ‘Burg other than history now and the fact that my dad is buried in the village cemetery. Mom sold the Houghmstead last year. We used to go to the Memorial Day parade every year and run into people we knew from as far back as elementary school even though I have not lived there (full time) since 1989.

Since Mom doesn’t live there anymore, other than passing through to visit and maintain Dad’s grave, probably will not be there much, if at all.

Most things I knew from my childhood are gone.

 

[ghuns]

To be clear...I was joking. I probably would know the name...

Oh, I know.

They're a good family.

But if I ever wake up to a horse head in my bed, I'll know where it came from.

 

[JettaKnight]

Bravas is closing their operations here.
https://www.wane.com/news/local-news/bravas-closing-down-burger-shop-food-truck/

 

[bwframe]

John's Famous Stew, which served diners for more than a century, will not reopen

 

[bwframe]

https://do317.com/p/permanently-closed-restaurants

 

[IndyBeerman]

John's Famous Stew, which served diners for more than a century, will not reopen

John's had been on life support for YEARS, with the exodus of the GM plant and businesses around the area. They just didn't have the traffic that they had in their glory days when they had a ton of foot traffic coming in. They needed to move years ago to a better location and a better building.


From what I heard, after the death of the last owner in 2018 it started it's downward spiral. Ultimately fast food restaurants was the demise of this institution But you still have to consider when businesses like Lilly moving it's main campus south 2 miles away when it was a walk across the street and IPL which it was adjacent to it's back yard it lost a ton of lunch and early dinner business that it was never going to get back.

At what point in time are we going to admit that a lot of these restaurants that have closed was due to prior decisions years in advance. What's next? Are we're going to blame Old Country Buffet, Kenny Rodger's Roasters, Chi Chi's and Steak & Ale and many others that closed years ago, because of COVID?

 

[bwframe]

Pacers organization terminates dozens of employees in cost-cutting move

...Pacers Sports & Entertainment on Friday terminated dozens of full-time staff, citing the need to cut costs because of the pandemic.

The entity, which owns and manages the Indiana Pacers and Indiana Fever, cut about 16% of its workforce, a spokesman told IBJ.

The company declined to specify the exact number of people who were terminated or provide the size of its full-time staff. On its web site, PS&E says it employs about 180 full-time workers, which would mean about 29 people lost their jobs. But the company also lists about 300 full-time employees on its staff list, which would mean about 48 people were terminated...

 

[churchmouse]

John's had been on life support for YEARS, with the exodus of the GM plant and businesses around the area. They just didn't have the traffic that they had in their glory days when they had a ton of foot traffic coming in. They needed to move years ago to a better location and a better building.


From what I heard, after the death of the last owner in 2018 it started it's downward spiral. Ultimately fast food restaurants was the demise of this institution But you still have to consider when businesses like Lilly moving it's main campus south 2 miles away when it was a walk across the street and IPL which it was adjacent to it's back yard it lost a ton of lunch and early dinner business that it was never going to get back.

At what point in time are we going to admit that a lot of these restaurants that have closed was due to prior decisions years in advance. What's next? Are we're going to blame Old Country Buffet, Kenny Rodger's Roasters, Chi Chi's and Steak & Ale and many others that closed years ago, because of COVID?

We would always eat at johns if we were working in the area.
Always.

 

[1nderbeard]

Self employed CPA here. I was very fortunate to be one of the early recipients of the PPP loan, which was a great help. We've made up most of what we lost in tax prep business. Consulting business is still uncertain. I've had one client whose essentially lost his entire earnings stream, and another small client who decided to do his own accounting work (which I'm sure will end in disaster for him, but alas...). All in all I'm very blessed to be not all that impacted, but I'm anticipating having a lean summer with consulting.

 

[bwframe]

Retailer Stein Mart files for bankruptcy, might close all 281 stores

 

[IndyBeerman]

Retailer Stein Mart files for bankruptcy, might close all 281 stores

And right there in the first sentence, "accelerated the off-price retailer’s decline"

It was already going down hill, getting beat up by Amazon and a host of other Low ball retailers with lower operating cost.
Just another company that was headed to it's demise.

When are going to start blaming businesses for their own failings and stop blaming it on COVID-19?
A year from now when this virus is under control, is this still going to be the narrative?

 

[JettaKnight]

And right there in the first sentence, "accelerated the off-price retailer’s decline"

It was already going down hill, getting beat up by Amazon and a host of other Low ball retailers with lower operating cost.
Just another company that was headed to it's demise.

When are going to start blaming businesses for their own failings and stop blaming it on COVID-19?
A year from now when this virus is under control, is this still going to be the narrative?

Oh, probably for the next half decade, at least.

 

[HoughMade]

If a company was going down hill, could the COVID sound the death knell when bankruptcy was not inevitable? Sure. Could it case the BR to happen 2,3 or 5 years sooner? Sure.

That a company is in bad shape doesn't mean COVID didn't push it over the edge. In fact, those on the edge would be the first gone because of the economic disruption, don't you think?

Just another example of there being multiple causes for an event.

 

[craigkim]

I don't think my dental office would have made it without PPP. I had people tell me or at least imply, that my situation was my fault..."You should have saved more wisely!" Uh, yeah, I did, I had 6 weeks operating expenses in my accounts at the office and 3 months living expenses in accounts at home... prior to getting a divorce finalized on March 3rd. All retirement, all savings, 60% of the value of my guns even, went to her so that I could keep the business left with a little bit of nothing in its accounts. 2 weeks later we were closed with no idea if/when/how we would reopen.

My point is, depending upon circumstances, even relatively healthy businesses could have been put under by the pandemic. I got a 1-2 punch.

 

[HoughMade]

I get it. Things were more easily handled at my firm, but our clients started slow-paying...or not at all. That is normalizing. We chose not to lay any of the staff off even though the whole "work from home" thing resulted in a massive productivity drop and we could have gotten by with 50% staffing. I never worked from home and found the quiet office enhanced productivity, kinda like working on a weekend. Our bottom line was not unscathed as a lot of billing is done when you prep for trial and try a case...but all the trials are cancelled. At this point, I don't think I'll try a case until later 2021 at the earliest. I usually try 3 to 5 cases a year. None in 2020, probably none in 2021. However, the ill effects are very mild compared to places that had to close.

 

[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.

Good news - The replacement opened up last week - Big Apple Pizza; and it's delicious.

 

[bwframe]

Downtown restaurants Black Market, Rook set for permanent closure

 

[JettaKnight]

Not economics, but the health dept.:
https://www.wane.com/news/local-news/bluffton-bbq-owner-responds-to-health-dept-closure/


This thread is in the break room, so I have no comments.