(FOX 9) - The number of businesses closing their doors is up nationwide, and according to a study, they will likely be closed for good.
Choo Choo Bob’s train store is closing, and it’s among the thousands that will likely stay closed forever. The stores co-owners say they were on track to break even after buying the toy store from the original owner. Then, the pandemic hit.
“We were feeling pretty good, and then bam,” co-owner Jennifer said.
The owners say closing was the only option.
“It’s not enough to sustain the rents, bills, and operational costs of this whole entire space,” co-owner Rachel said.
Yelp released a report Wednesday showing that more than 55 percent of businesses are not reopening - and restaurants are taking the hardest hit.
“I think the hardest part is uncertainty,” said Mychael Wright, owner of Thyme restaurant.
His restaurant is defying the odds as it continues to bring in money, but Wright says he worries every day.
“We have nothing else to fall back on,” he said.
The hospitality industry says it’s working with the governor’s office to increase the capacity at restaurants.
“Every little move of increase of these requests will make a difference between surviving and not surviving,” said Liz Rammer, CEO of Hospitality Minnesota.