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.
MORE ON CORONAVIRUS:
- Your No-Panic Guide To Coronavirus In LA So Far
- Where To Get Financial Assistance, Food And Other Help
- Tracking The Spread Of COVID-19
- Have A Question? We Will Answer It
DON'T MISS ANY L.A. CORONAVIRUS NEWS
Get our daily newsletter for the latest on COVID-19 and other top local headlines.
Support our free, independent journalism today. Donate now.