Since the Covid Pandemic hit the US in 2020 and into 2021 small businesses have been healing its wounds. The Independent Restaurant Coalition says without financial help from the government, up to 85% of non-chain restaurants could permanently close. St. Lucie is hardly alone in feeling the impact of all this. But retail and restaurants have been a vital component of the growing city’s rise. According to a recent report by city consultant Co-Star, retail — along with the leisure and hospitality industry, which includes restaurants — accounts for around 37,000 jobs in PSL. That’s one in four.
It’s a small wonder St. Lucie County has had the Treasure Coast’s highest unemployment rate since the COVID crash began.
Moreover, while neighboring Martin County fights to keep retail out — witness residents’ running battle to bar Costco from coming to town — PSL officials have rolled out the red carpet, seeing new and upscale places to shop as a key factor in the town’s quality of life. According to a recent report by city consultant Co-Star, retail — along with the leisure and hospitality industry, which includes restaurants — accounts for around 37,000 jobs in PSL. That’s one in four. Small wonder St. Lucie County has had the Treasure Coast’s highest unemployment rate since the COVID crash began.
While neighboring Martin County fights to keep retail out — witness residents’ running battle to bar Costco from coming to town — PSL officials have rolled out the red carpet, seeing new and upscale places to shop as a key factor in the town’s quality of life. Pier 1 Imports in the Landing at Tradition is holding its going-out-of-business sale; the chain is closing all stores nationwide. Bed Bath and Beyond, in the same plaza, plans to close 200 stores over the next two years, though it has not yet announced which stores would be shuttered.
GNC, also at Tradition, will close 219 stores around the country, though its Treasure Coast locations are slated to remain open — for now.
Over the past three months alone, some of the nation’s most storied brands/shops have filed for bankruptcy — Lord & Taylor, Men’s Wearhouse, Brooks Brothers, J. Crew and dozens more. Pier 1 Imports in the Landing at Tradition is holding its going-out-of-business sale; the chain is closing all stores nationwide. Bed Bath and Beyond, in the same plaza, plans to close 200 stores over the next two years, though it has not yet announced which stores would be shuttered.
Overall most closures have hit the small local businesses particularly hard. But once everything bottoms out — whenever that may finally be — the rebound can begin. When the local economy turns from red to black businesses will become more stable.” Auctions have been the last resort selling all equipment, fixtures, merchandise and other related inventory. All options can be arranged like auction sales or liquidation sale. Our company specializes in business auctions getting you the most for your business items.
