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31 October 2023, TRENDS ON THE GLOBAL ECONOMIC FRONT – Oct 31 2023

GOING OUT OF BUSINESS TRENDS

October 31, 2023October 31, 2023
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GOING OUT OF BUSINESS TRENDS

In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…all made worse by the COVID War which destroyed the lives and livelihoods of billions across the globe. 

The combination of these factors has created an environment where business sustainability has become increasingly challenging. 

Unfortunately, numerous businesses, from startups to established entities, have been unable to navigate these tumultuous waters. 

The following list details businesses that, due to the aforementioned reasons, have made the tough decision to close their doors. As we review this list, it is a somber reminder of the vulnerabilities inherent in the business world and the imperative need for adaptive strategies in an ever-evolving economic landscape.

  • Sugarfire Cedar Rapids Iowa
  • Quality Eats will shutter its last Manhattan location on November 13 NYC
  • Montdale Dairy in Scott Township PA
  • First Bay County McDonald in Panama City Florida
  • Good Shepherd Lutheran closing child care center in Sioux Falls SD
  • Mr. Gus’ Ristorante in Montgomery Ala.
  • Bankruptcy: Sunlight Financial – Chapter 11
  • Bankruptcy: Icebox Cafe
  • Weckerly’s Ice Cream at West Girard ave. Philadelphia PA.
  • Grindhouse Video is closing its Knoxville store
  • Printpack to close its Hendersonville Location NC – 90 Layoffs
  • Update: Coffee By Design is permanently closing its Congress Street coffeehouse in Portland
  • VSSI Staffing Services, LLC in York PA
  • Citizens Bank, Community Bank each closing 2 branches in W. NY
  • The Village Gem in Nottingham MD
  • MasTec Industrial closing Rochester plant NY – 102 Layoffs
  • Dagwood’s Deli in Kingston PA
  • Bankruptcy: Verde Building Solutions Inc – Chapter 11 on Oct 11
  • Adezzo Coffee Shop in Scranton PA
  • Camel Pawn in Winston Salem NC
  • Yelloh – closing 90 Delivery Centers, up to 750 layoffs
  • SEL Supply Chain Solutions of Fort Worth, Texas to wind down operations
  • Pfizer closure of facilities in Morrisville, Durham
  • Twisted Sugar in Belmont NC
  • Local Alchemy in Steubenville Ohio
  • 1000 Degrees Neapolitan Pizzeria in San Antonio
  • Thayer Brothers Deli in Joliet IL
  • D.S. Tequila Co., 3352 N. Halsted St. in Chicago IL
  • Skate Escape in Atlanta GA
  • Rosamunde on Mission Street in San Francisco CA.
  • Cherry Capital Foods Michigan based food Distributor
  • National Distribution Center distribution center in High Point NC -200 Jobs Lost
  • Anawalt Lumber readies closing of its West Hollywood location
  • Peloton to shutter East Bay store
  • Commercial printer and marketing firm Quad will close a plant in Illinois – transfers workers to other plants
  • Starbucks at Milwaukee’s Red Arrow Park WI
  • Flint Community Schools MI will close four schools over next 3 tears
  • Ardmore’s Michelin plant Oklahoma – 1,400 jobs lost
  • The Expensify Lounge in San Francisco CA
  • Café Twelve 04, located at 1204 Washington Avenue in Rensselaer NY
  • Caffe 817 in Oakland Ca
  • Sam’s No. 3 will close its location at 2580 S. Havana St. in Aurora
  • Your Pie Pizza, is closing his restaurants in Raleigh and Durham NC
  • Archer’s BBQ closing all 6 locations in the Knoxville Tenn. area
  • Ardagh Metal Packaging may close facility in Ohio
  • The Morgantown ReStore W. Va.
  • T.J. Maxx in Downtown Brooklyn and a Marshalls in the Bronx NY
  • El Dorado Walgreens, located at 119 6th St in KS
  • Gold Hill Theater in Woodland Park Colo.
  • Cadre staffing company in Appleton Wis. – 223 Jobs lost
  • Strollo’s Lighthouse closes its Point Pleasant Beach Location NJ
  • Pensacola’s Walk-On’s Sports Bistreaux located at 1240 Airport Blvd.
  • Bechdel Jewelers in Inwood W. Va
  • Yardley Jewelers will cease its retail store operations PA
  • Seiyo in Boston’s South End
  • Geoffrey’s Comics at Hi De Ho Comics in Santa Monica Ca.
  • Panchitos is closing its Highlands location at 2245 Bardstown Road Louisville KY
  • 65 Hospitals closing Departments or ending services
  • Fish Market in Allston is 170 Brighton Avenue, Allston, MA
  • Homestar Financial
  • Z Gallerie closing 21 Stores
  • Bob’s Lawn and Garden in Godfrey IL
  • Local on the Square in Memphis Tenn.
  • OfficeMax in Sheboygan WI
  • Summit Hill Foods to close First Avenue Plant – 80 Layoffs
  • Crestfield Rehabilitation Center & Fenwood Manor plans to close Nursing Home in Manchester CT
  • Momofuku restaurant NY
  • Bankruptcy: Air Methods – Chapter 11
  • Claussen’s, located at 10 Central Avenue NE in Le Mars Iowa
  • Seven child care centers in Western North Carolina will close on Oct. 31
  • Best Wishes Floral in Golden Valley MN
  • 192 Brewing is closing its Mount Vernon location Wa.
  • Round Table Pizza closing location in Folsom’s Broadstone Plaza
  • The Heiner’s Bakery Surplus store in Huntington W. Va.
  • Mayberry’s Restaurant in Brevard NC
  • Bankruptcy: Radiology provider Akumin
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