55% of businesses closed on Yelp have shut down for good during the coronavirus pandemic – MarketWatch
American states have been reopening their economies in the wake of the coronavirus pandemic, but tens of thousands of businesses are still closed — many of them for good.
As of July 10, 132,580 businesses listed on the Yelp YELP, 1.34% review site remain closed due to the coronavirus pandemic, according to its latest Economic Average report. The good news is, that’s a slight decrease from 140,000 closures last month, as phased reopenings in some places have allowed many businesses to operate again, even if in a limited capacity.
But while temporary closures have dropped, the number of businesses that have permanently shuttered is rising. Of all the business closures since March 1, 55% (or 72,842 businesses) will never reopen again, which is up from the 41% that Yelp reported in its Local Economic Impact Report just last month.
