NEW JERSEY — Businesses, both big and small, have been pushed over the edge because of the COVID-19 pandemic.
By the end of 2020, restaurants are expected to lose $240 billion, and an estimated 11% may never reopen, according to the National Restaurant Association.
Six Brothers Diner in Little Falls, New Jersey announced with a heavy heart, it was closing after more than 20 years of business.
The diner had been struggling financially because of major construction that disrupted the diner’s entrance from Route 46.
In Asbury Park, popular southern restaurant Modine announced the same fate earlier this month.
Several big-named retailers also filed for bankruptcy, including J.Crew, Neiman Marcus, 24 Hour Fitness and JcPenney.
Pier 1 Imports, which was in business for more than 50 years, announced it was liquidating all its stores by the fall.
Other businesses shuttered hundreds of locations, including Starbucks and Victoria’s Secret.
Even Long Island’s Nassau Coliseum is in jeopardy. Just three years after a major renovation project, the NY Islander’s home is closed indefinitely until it finds new investors.