It has always been crucial for commercial landlords to have thriving tenants instead of fighting battles with difficult tenants on the brink of eviction. This need has often become clearer as the Covid-19 pandemic continues, often highlighting more troublesome tenants.
On Thursday, more than 500 movie theaters will go dark as a result of Regal Cinemas’ announcement to temporarily close all US locations. The difficult decision to close after many of the theaters have been open since the end of August is largely due to the complications COVID-19 has created for the movie theater industry.
COVID-19 arrived in time to add gasoline to an already suffering retail industry. Then, out of the fire came a few retail brands that have surprised the economy not only by continuing on, but thriving and expanding. One retail brand that has risen unexpectedly during the pandemic is Tractor Supply Company. Recently opening it’s 1900th location and announcing up to 80 new stores this year, Tractor Supply Co. is hard to ignore. What first seemed like oddball luck for Tractor Supply Co., upon further investigation uncovered the successful planning and positioning the company has taken over the past years.
The early days of the pandemic provided some brands enormous success, especially if they still had toilet paper to sell. Other brands during lock down suffered tremendously. As COVID raged through our nation, a few brands unexpectedly did better than anticipated. In this battle to keep alive, these businesses, with a mixture of preparedness and perhaps the good side of luck, have championed the market against severe economic lockdowns and downturns.
Pre-COVID, grab and go options were a necessity in the typical daily grind. In the midst of COVID, grab and go became essential for other reasons. Restrictions on dining in and avoiding a crowd has left us with delivery or to grab and go. Local grab and go options include unbeatable quality, diversity, and local pride that many national fast food brands lack.
Everyday it seems like another big retailer is declaring bankruptcy, announcing another set of store closures. The whole retail industry seems to be dwindling, that is if these constant closings are the only news. Despite the pandemic, other retail companies are announcing expansion.
Everyday, another store closes. Big retailers are declaring bankruptcy and signaling another round of closures. The whole retail industry is in flux. Despite the pandemic and depletion of some retailers on the scene, other retailers are swooping in capitalizing by announcing expansion.
In a declining economy amid a global pandemic, a franchise closing might not be the biggest surprise. But the decline of Performance Bicycle was not prompted by our current economic pandemic climate. In November of 2018, Advanced Sports Enterprises (ASE), a parent company to Performance Bicycle, declared Chapter 11 bankruptcy.