Retail Chains and Small Businesses Are Struggling in N.Y.C.

by Amanda Rosa
New York Times

The owners of Bank Street Bookstore, a 50-year-old children’s shop on the Upper West Side, were looking forward to busy shopping seasons.

Bryant Park Grill & Cafe, in Midtown, was expected to remain one of the country’s top-grossing restaurants.

Then the coronavirus crisis pulled the rug from underneath them.

The lack of tourists and commuters has devastated New York City, especially Manhattan. Since March, more than 2,800 businesses in the city have permanently closed, according to data from Yelp. And by the time the pandemic is over, one-third of the city’s 240,000 small businesses could be gone forever, according to a report by the Partnership for New York City, an influential business group.

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