1 of every 7 chain stores in NYC closed this year

first_imgThe biggest losses were in Manhattan, which accounted for 520 out of 1,057 closures (Getty)It’s not just small businesses and mom-and-pops that are hurting in 2020: Chain stores are also shuttering at a rapid rate across New York City.More than 1,000 chain stores across New York City — nearly one out of every seven that were open this time last year — have closed their doors over the past 12 months, according to a new report by the Center for an Urban Future, a think tank focused on economic growth in the five boroughs.That marks the largest number of chain closures tracked by the think tank in 13 years of putting together the report. In comparison, there was just a 3.7 percent decline in chain stores across the city from 2018 to 2019.According to CUF’s data, there were 7,948 chain stores across the five boroughs in 2019. Now, there are 6,891, a 13.3 percent decrease. The biggest losses were in Manhattan, which accounted for 520 out of 1,057 closures, or 49 percent of the citywide total. The larger figure includes 160 stores that have temporarily closed because of pandemic-driven restrictions.Read moreThese 10 retailers plan the largest expansionsWhy these retailers opened in midst of pandemicInside the plight of a small retail landlord Fitness chains like New York Sports Club and SoulCycle shut down locations after Gov. Andrew Cuomo’s executive order in March that required gyms to close. A large number of fast-casual sandwich and soup chains — including Subway, Pret a Manger and Hale & Hearty — also shuttered locations, perhaps because few workers have returned to offices.Even major chains couldn’t avoid the closures. Dunkin’, which has more stores than any other retailer in the city, with 610 locations, lost 18 stores. Metro PCS, the second largest retailer, shuttered 134 stores over the past year.Other stores that recorded losses include Duane Reade, which closed 70 stores; GNC, which shuttered 51 locations; Modell’s, which closed 43 stores after filing for bankruptcy earlier this year; and Baskin-Robbins, which shuttered 30 locations.Only 40 retailers added store locations. Popeyes and T-Mobile grew the most, adding 11 stores each.While the pandemic accelerated closures in 2020, CUF’s data suggests that the growth of chain stores throughout the city has flatlined in the past few years — in 2018, there was a 0.3 percent decline, and in 2019, a 3.7 percent decline.To create the report, the think tank tallied the number of national retailer store locations throughout the city and recorded trends by retailer, borough and ZIP code.Contact Sasha Jones Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name*center_img Message* Share via Shortlink Tagscenter for an urban futureNYC RestaurantsRetaillast_img read more

Vardy Defends Former Club Teammate Over England Snub

first_imgThree Lions of England striker Jamie Vardy has defended his former club teammate at Leicester City, Danny Drinkwater, after he turned down a call up to the national team ahead of games against Germany and Brazil.Speaking ahead of England’s game with Brazil, Vardy stated that Drinkwater has been battling with match fitness. In his words, Vardy said:“He has been struggling to get a bit of match-time.”“He was injured and he needs to get the match sharpness back. He has been doing that in recent weeks for Chelsea and he needs to keep building that up.“He definitely wants to play for his country.” he concluded.Danny Drinkwater has had a slow start to life at Chelsea following his £35m move from Leicester City in the summer and that has culminated in just 22 minutes of English Premier League (EPL) football for the league champions.RelatedShock! Chelsea Star Snubbed England Call-Up – ManagerNovember 9, 2017In “England”Danny Drinkwater Hands Transfer Request To Leicester City Amidst Chelsea InterestAugust 30, 2017In “England”Daley BlindJune 30, 2017Similar postlast_img read more