The Official "Business Destroyed By Lockdown" Thread

[DoggyDaddy]

I'm just going to leave this here:

https://www.indianagunowners.com/forums/break-room/481197-coronovirus-iv.html

Agreed. General WuFlu discussions belong there. This thread is (I think) intended for specific businesses that have gone out of business as a direct result of the shut down. Kind of like the Sit-rep thread being for specific information for peoples' immediate areas about availability of essentials.

 

[churchmouse]

I'm just going to leave this here:

https://www.indianagunowners.com/forums/break-room/481197-coronovirus-iv.html

Well done sir.

 

[IndyBeerman]

Not trying to disrespectful to people who have/ or are going out of business. But major retailers that have/or heading that way was going to eventually get there, this just pushed them a little faster.

Restaurants-bars, me and my sisters belief 20 years ago before we sold our pizza shop, was to have at LEAST enough money in the bank for 3 months minimum operating expenses in case of problems, which we did.
People are trying to operate beyond their means with to small of a profit margin to cover the cost of running their business. There's more to it than throwing equipment into a enclosed space and unlocking the door and
expecting $$$'s to just start dropping from heaven into your wallet.

We got got out of business because of a silent partner stealing from us. Actually carting out supplies out of the shop @ 3am in the morning to sell to other independent shops. He was a silent owner because he owned the building we was in and got a % of the profits. Was a great setup right until we noticed our skyrocketing food cost over the last 30 days and we had a alarm installed with out him knowing.

 

[Dutchisaurus]

Well apparently CoVid killed Club Venus. They have a for sale sign out front.

What a shame.

Sent from my Moto Z (2) using Tapatalk

 

[churchmouse]

Not trying to disrespectful to people who have/ or are going out of business. But major retailers that have/or heading that way was going to eventually get there, this just pushed them a little faster.

Restaurants-bars, me and my sisters belief 20 years ago before we sold our pizza shop, was to have at LEAST enough money in the bank for 3 months minimum operating expenses in case of problems, which we did.
People are trying to operate beyond their means with to small of a profit margin to cover the cost of running their business. There's more to it than throwing equipment into a enclosed space and unlocking the door and
expecting $$$'s to just start dropping from heaven into your wallet.

We got got out of business because of a silent partner stealing from us. Actually carting out supplies out of the shop @ 3am in the morning to sell to other independent shops. He was a silent owner because he owned the building we was in and got a % of the profits. Was a great setup right until we noticed our skyrocketing food cost over the last 30 days and we had a alarm installed with out him knowing.

Did you lock him in the cooler and kick his ass or waste the time calling the cops.

 

[IndyBeerman]

Did you lock him in the cooler and kick his ass or waste the time calling the cops.

Alarm company called the PD, I was pulling onto the lot as they was placing the cuffs on him. Needless to say, that was our last day of business and he ended up paying boocoo $$$'s to us for the theft. We walked away with a
substantial profit. We decided to get out because it was a very time consuming operation because we was open from 11am to 11pm weekdays and 11am to 1am Fri. & Sat. We employed 6 in the shop and 6-10 delivery drivers.
It was a pain even back then to get quality people to do the job. We even caught del drivers calling in fake orders so everyone could have free pizza most nights. You'd be amazed on how many people don't think about caller I.D.

I do not miss the headaches that came about from the normal operations of it.

 

[churchmouse]

Alarm company called the PD, I was pulling onto the lot as they was placing the cuffs on him. Needless to say, that was our last day of business and he ended up paying boocoo $$$'s to us for the theft. We walked away with a
substantial profit. We decided to get out because it was a very time consuming operation because we was open from 11am to 11pm weekdays and 11am to 1am Fri. & Sat. We employed 6 in the shop and 6-10 delivery drivers.
It was a pain even back then to get quality people to do the job. We even caught del drivers calling in fake orders so everyone could have free pizza most nights. You'd be amazed on how many people don't think about caller I.D.

I do not miss the headaches that came about from the normal operations of it.

People. That is usually the biggest headache.

 

[bwframe]

The Speedway station has suspiciously closed on North College Ave in Bloomington. They stopped doing business soon into the pandemic.

The reader board said temporarily closed initially. Now it doesn't say anything and the place is looking run down.

 

[dusty88]

Not trying to disrespectful to people who have/ or are going out of business. But major retailers that have/or heading that way was going to eventually get there, this just pushed them a little faster.

Restaurants-bars, me and my sisters belief 20 years ago before we sold our pizza shop, was to have at LEAST enough money in the bank for 3 months minimum operating expenses in case of problems, which we did.
People are trying to operate beyond their means with to small of a profit margin to cover the cost of running their business. There's more to it than throwing equipment into a enclosed space and unlocking the door and
expecting $$$'s to just start dropping from heaven into your wallet.

We got got out of business because of a silent partner stealing from us. Actually carting out supplies out of the shop @ 3am in the morning to sell to other independent shops. He was a silent owner because he owned the building we was in and got a % of the profits. Was a great setup right until we noticed our skyrocketing food cost over the last 30 days and we had a alarm installed with out him knowing.

This is true. The situation is also aggravated by our monetary system encouraging that through low interest rates and discouraging savings at the same time. Society runs on debt and then goes into a landslide with the slight shift

 

[churchmouse]

This is true. The situation is also aggravated by our monetary system encouraging that through low interest rates and discouraging savings at the same time. Society runs on debt and then goes into a landslide with the slight shift

Kind of like it is part of the playbook yes....

 

[Libertarian01]

Of course they aren't guaranteed survival and if you understand the difference why did you act like they were not paying employees, vendors, etc.?

I'm going to go out on a limb here and say you haven't read any of their financials. I recommend you do so. There's another big factor at play, one that's also been present in over 70% of major retailer bankruptcies in the past decade, and one much more dangerous to the long term health of the brand. While I agree about the concern over COVID's impact on the economy, don't get tunnel vision.

It was my understanding that J Crew had closed "500 stores worldwide." Link: https://abcnews.go.com/Business/maj...uncertain-futures-due-covid/story?id=70515307

So no store open, no pay employees. Sure, some will still be working corporate and other areas, but for now, not a lot drawing a paycheck. With stores closing due to Covid I guess it wouldn't be wise to order too much more apparel from vendors, so while debts may be paid cash flow will be down for them.

The plague also interfered with J Crew's attempt at an IPO. Had this been successful they may not have needed to use bankruptcy. Link: https://www.nbcnews.com/business/bu...y-retailer-succumbs-covid-19-fallout-n1199216

Now, they are stuck slugging through bankruptcy while tens of millions in the US alone are out of work and stores are closed. Not a good prospect for them.

I have read in multiple places about the damage done by private equity firms to many retailers. That damage is another issue.

I don't want to get stuck on this one company but I don't think it can be argued that the Covid lockdowns were in any way positive or neutral to J Crew's ability to remain open.

Regards,

Doug

 

[BehindBlueI's]

It was my understanding that J Crew had closed "500 stores worldwide."

Temporarily. Not due to going out of business as you originally said. See your second link.

J Crew is not part of the IPO.

You still didn't read the financials, did you?

 

[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/

 

[HoughMade]

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!

 

[MarkC]

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.

 

[JettaKnight]

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.

Seriously?



Ironically, I rarely got there in Indy, but always ran into them in Madison, WI at the festival every year.

 

[bwframe]

Downtown steakhouse joins list of restaurants permanently closing

...The downtown Indianapolis location of Morton’s The Steakhouse appears to be latest victim of the economic paralysis brought on by the coronavirus crisis.

The Facebook page for the restaurant lists the location at 41 E. Washington St. as “permanently closed.” It has been removed from the company’s online list of restaurants, and its local phone number no longer works.

Media representatives for Houston, Texas-based parent company Landry’s Inc. did not immediately respond a request for comment on Monday morning.

The closure would mark at least the second exit of a major upscale steakhouse in the Indianapolis area since Indiana restaurants discontinued on-premises dining in mid-March. Earlier this month, the owner of the upscale Fleming’s Prime Steakhouse & Wine Bar chain announced its restaurant in the Keystone at the Crossing area—its only location in Indiana—was shutting its doors permanently.

Morton’s the Steakhouse was founded in 1978 in Chicago. Its website currently lists 58 locations in the United States, seven of which are designated “temporarily closed.” It also has nine international locations, mostly in Asia.

According to media reports, the chain’s restaurant in Rochester, New York, also closed permanently earlier this month.

The local Morton’s opened at the Washington Street location in the late 1990s, after the four-story building was purchased and renovated by an investment group that included owners of IBJ Corp...

...The building was sold in 2016 to the St. Louis-based Drury Hotels chain. Drury representatives did not immediately respond to a request for comment on Monday morning.

Other recent permanent restaurant closures—beyond the eateries that have temporarily shut their doors due to the ban on on-premises dining—have included Bravo! Cucina Italiana Restaurant at 2658 Lake Circle Drive; Brugge Brasserie at 1011 E. Westfield Blvd.; Next Door at 4573 N. College Ave.; Redemption Alewerks at at 7035 E. 96th St.; and all of the locations of the Stacked Pickle sports bar chain...

 

[DoggyDaddy]

Downtown steakhouse joins list of restaurants permanently closing

I couldn't see the article but saw from one of the comments that it was Morton's.

 

[dusty88]

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'm not sure if Bravo closed before the Covid19 regs or not.

My office is near there and I've went there for lunch off and on over the years. Years ago, it used to be packed. In recent years, it's pretty slow.

I do know that they were closed either before or very early after the Covid19 regs, because my staff asked for lunch there weeks ago and they were "permanently closed" then. I did like some of their food.

They also closed their Castleton location in October 2019.

 

[bwframe]

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