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Thousands of US businesses to permanently close due to coronavirus lockdowns

As some states begin the slow process of reopening their economies, many businesses that were forced to shutter due to the Wuhan coronavirus (COVID-19) lockdowns – and especially the smaller ones – might never reopen at all because of their immense losses. With 22 million Americans-and-counting filing for unemployment benefits, many economists are saying that the United States is currently contracting at the fastest rate this country has seen since World War II. Even larger companies are veering towards bankruptcy as they struggle to come up with a viable plan for getting back on their feet. The real disturbance, however, is among small and mid-size businesses. Many were struggling before the Wuhan coronavirus (COVID-19) even existed, and now they might have to remain closed for good.  Read more....

 

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