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Shuttered Small Businesses Say They Can't Pay Rent
Small businesses have very little room for error. With an average of just 27 days of cash on hand, even a minor downturn in business can mean financial disaster.
And being closed for three weeks to help prevent the spread of the coronavirus is much more than a minor downturn in business.
Jenette Goldstein, who owns a bra-fitting boutique with four locations in L.A. County, laughed when I asked what her sales have been like the past three weeks. She told me she has no idea how she will pay rent.
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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