Nearly 140,000 businesses on Yelp remain closed since coronavirus hit

Around 41 percent of those businesses are considered permanently closed

National Weekend Edition /
Jun.June 28, 2020 12:00 PM
New numbers from Yelp show that 140,000 businesses that closed since March 1 remain closed and that 40 percent of them permanently closed. (Getty)

New numbers from Yelp show that 140,000 businesses that closed since March 1 remain closed and that 40 percent of them permanently closed. (Getty)

Nearly 140,000 U.S. businesses that closed since March 1 remain shuttered, and just over 40 percent of them have closed for good.

Yelp’s latest report on businesses listed on the platform show that more retailers closed than any other businesses during the coronavirus pandemic, but a higher number of restaurants are closing permanently, according to the Wall Street Journal.

Nearly 27,700 retailers closed and 35 percent of them marked themselves as permanently closed. While just under 24,000 restaurants have closed since the beginning of March, 53 percent of them are considered permanently closed.

Around 175,000 Yelp-listed businesses were closed in April, meaning about 35,000 have reopened since then.

Some of those businesses could soon close again as the number of positive COVID-19 cases rise nationwide. Texas, California and Arizona account for nearly half of the almost 40,000 new cases reported Thursday.

Texas Governor Greg Abbot on Friday ordered bars to close at noon except for delivery and takeout and limited restaurant capacity to 50 percent, but stopped short of ordering any businesses to shutter completely.

Meanwhile, searches surged for black-owned businesses across the country in the weeks after the late May police killing of George Floyd in Minneapolis. There were 222,000 searches for black-owned business compared to 9,000 in the three weeks prior.
Yelp also created a function to search for black-owned businesses. [WSJ] — Dennis Lynch


Related Articles

arrow_forward_ios
Singapore (iStock)

Singapore luxury market rebounds despite fewer foreign buyers

Singapore luxury market rebounds despite fewer foreign buyers
The tax break allows foreign visitors to reclaim a sales tax of 20 percent on items bought in the country for more than £30 (Getty; Unsplash)

UK tax break expiration could hurt struggling retailers

UK tax break expiration could hurt struggling retailers
Joe Sitt and Charles Scribner’s Sons Building in Midtown (Thor, Google Maps)

Thor’s $150M loan on 597 Fifth heads to special servicing

Thor’s $150M loan on 597 Fifth heads to special servicing
As workers trade in suits for sweatpants, 1 in 6 dry cleaners has closed or gone bankrupt (Getty)

Pandemic takes drastic toll on dry cleaners

Pandemic takes drastic toll on dry cleaners
Cineworld Group CEO Mooky Greidinger and Regal Cinema (Photo via Getty; Wikipedia)

Regal Cinemas scores financial rescue package

Regal Cinemas scores financial rescue package
(iStock)

What doom-and-gloom forecasts miss about the office market

What doom-and-gloom forecasts miss about the office market
Union Square Hospitality Group CEO Danny Meyer and the Union Square Cafe (Photos via Getty; Wikipedia Commons)

Danny Meyer’s Union Square Hospitality halts indoor, outdoor dining

Danny Meyer’s Union Square Hospitality halts indoor, outdoor dining
A recent study that found 1 in 10 Black homeowners returned to renting between 1984 and 2017 (iStock)

Black homeowners twice as likely to lose homes and return to renting: Report

Black homeowners twice as likely to lose homes and return to renting: Report
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...