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7 November 2023, TRENDS ON THE GLOBAL ECONOMIC FRONT – Nov 7 2023

GOING OUT OF BUSINESS TRENDS

November 7, 2023November 7, 2023
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GOING OUT OF BUSINESS TRENDS

The facts are clear, the numbers are there. The worst of the economic times is coming. Just take a look at the long list of businesses going out of business that we have been publishing each week.

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. 

And now with the Ukraine War and the Israel War, WWIII continues to escalate. Thus, the more war, the weaker economies and the higher inflation rises as governments play the “sanctions” game that cuts off supplies of commodities and raises their prices… pushing up inflation. 

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.

  • Publisac flyer service no longer operating in Quebec
  • PepsiCo closing Muncie facility
  • Amazon is closing its two Amazon style clothing stores
  • TJMaxx closed 2 stores in NY and Chicago
  • Marshalls closed 1 store in NY
  • ShopRite closed 5 stores in upstate NY
  • Beaver Blacksmith and Welding in Beavers Dam WI
  • The Local Oyster to close both Baltimore restaurants
  • Bensenville’s Victory Auto Wreckers
  • Bankruptcy: WeWork – Chapter 11
  • David Craig Jewelers in Langhome PA
  • 4 Esporta Fitness in Monroe County NY will close their Pools and Spas on Nov. 30 
  • Dwyer Instruments LLC., 507 Ward St., Wakarusa IN – 55 Jobs lost
  • Wine+ Market, at 486 W. Second St. in Lexington KY
  • The Rockler woodworking store in North Cambridge MA
  • Palace Cinema 9 in South Burlington VT
  • Bankruptcy: Forma Brands – Chapter 11
  • Bankruptcy: Clover Food Lab
  • Lopez Bakery in Milwaukee
  • Daw’s Home Furnishings store in El Paso Texas
  • Hodgepodge Coffeehouse on Moreland Avenue in southeast Atlanta GA
  • Josephine in 12 South Nashville TN
  • Fast Wok Chinese and Thai Food in Indianapolis – closing?
  • Nana Gogo Toybrary in Rochester Minnesota
  • Beans & Parlour, located at 407 Central Ave. in downtown St. Pete FL
  • East Sixth Goan Restaurant Vixen’s Wedding TX
  • PepsiCo closing Muncie Indiana beverage facility
  • Bankruptcy: IronNet
  • Old Time Pottery is closing its east Charlotte location NC
  • Moni’s, 17200 N May Ave. in Edmond OK
  • Eadilyn’s Table in Wynantskill NY
  • Siemens Healthcare Diagnostics manufacturing facility in Flanders, NJ
  • The Delta at 135 S. Sixth Ave. in Tucson AZ
  • IW Marks Jewelers in Bellaire Houston Texas
  • Uptown, the dive bar at 17th and Capp streets San Francisco Ca.
  • Tasting Point Liquors Wines & Foods in Woodlands TX
  • Trinity at City Beach Sandpoint ID
  • Bob’s Discount Mattresses in Colorado Springs
  • Zesty’s Frozen Custard location on Riverside Dr. in De Pere Wis.
  • Widner Drug in Manchester IA
  • C.J. Duncan Jewelers in downtown Massillon Ohio
  • Big Lots plans to close its store at Carmichael Center
  • Counterbalance Bicycles is closing their iconic trailside shop
  • Bankruptcy: Serene Pavers of New Smyrna Beach – Chapter 7
  • Sangamo Therapeutics closing Brisbane HQ – 162 layoffs
  • Wacker’s Roadhouse in Willow Street PA
  • Saputo Inc. closing its facility in Lancaster, Wis
  • Friars’ Brewhouse Tap Room in Bucksport Maine
  • Peripheral Vascular Associates closing 2 Offices in San Antonio – 30 layoffs
  • Murray Photo and Video Inc., 10 E. College Ave in Appleton WI
  • Best Buy Store located on Tustin Street in the City of Orange closing?
  • The PDQ locations in Cherry Hill and Sicklerville NJ
  • Perkins Restaurant and Bakery at 705 York Rd in Warminster PA
  • The Farm Store in Nampa ID
  • Adult day care will no longer be available at Aging Well Inc., 84 Social St., Woonsocket
  • Ingevity shutting down a Gulf Coast Plant – 300 Layoffs
  • Cherry Creek Grill in Sioux Falls SD
  • The ShopRite grocery store in Ellenville NY
  • The Walls Bargain Center located in the Cimarron Plaza Stillwater OK
  • Bankruptcy: Water Gremlin – Chapter 11
  • PCC Community Markets closing flagship store in downtown Seattle
  • Sarcastic Swine Restaurant & Catering in Middleboro MA
  • Carbone’s Market in Torrington CT
  • Super Wheels Miami in Kendall FL
  • Craft Beer Cellar and Trinktisch Restaurant in Belmont MA
  • Roofers Union, the towering American beer hall and restaurant in Washington DC
  • Stalk & Spade Vegan Restaurant closing all 3 Locations
  • Philomena-Ruth Waterloo IL – Moving Online
  • Osseo Gun Club and Pro Shop at 22 NW. 4th Street Osseo MN has closed
  • Ascension Via Christi to close Fort Scott Kansas emergency Dept.
  • Fuddruckers closing Saugus Location in Massachusetts
  • Ada’s Kitchen + Coffee in Riverside CT
  • New York City’s Vernon C. Bain Correctional Center, last operating prison ship in the U.S. is closing down
  • 24 Hour Fitness at 100 California St in downtown San Francisco
  • Persimmon Hollow Brewing Co. in Horizon West FL
  • The Talihina veterans home in Oklahoma is closing this week
  • Sporting goods store Al & Bob’s in Byron Township Michigan
  • Olive AI Inc. is selling off its remaining product lines and shutting down
  • New York Stroock & Stroock & Lavan
  • Bankruptcy: Montana Club
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