2020 Depression: Retail and Travel Services Getting Crushed
News from just the last 3 days is showing just how grim things are for retail establishments. Below is a list of places I've read about filing for bankruptcy or closing outright. There are undoubtedly others. I imagine you're probably familiar with some of these places:
--Bed, Bath, & Beyond announced it is closing 200 of its 955 stores nationwide.
--Levi's is permanently laying off 700 of its employees in its San Francisco location.
--Odwalla brand juices in Berkeley is closing permanently (300 employees).
--Dunkin' Donuts will close 450 retail stores by the end of 2020.
--Brooks Brothers suits is declaring bankruptcy and closing 51 of its 200 stores nationwide. Brooks Brothers has clothed 40 US Presidents, including Abraham Lincoln and John F. Kennedy.
--Ann Taylor, Loft, Lane Bryant is closing 1,200 stores across the country.
--Sur La Table declares bankruptcy and will close 56 of its 112 stores. It has also laid off 27 (one-fifth) of its corporate staff without severance pay.
--United Airlines has warned it will lay off 36,000 employees after October 1, unless the situation improves.
Just this past 3 days, folks . . . Can we officially call it a depression already?!? This is crazy . . .