Ezekial 33:6 But if the watchman see the sword come, and blow not the trumpet, and the people be not warned; if the sword come, and take any person from among them, he is taken away in his iniquity; but his blood will I require at the watchman’s hand.
Businesses across America and the world have failed or are failing which is another sign of the economy in trouble.
COVID-19 has hurt many restaurants. Including the ones that were destroyed by BLM rioters. And nearly two years into the pandemic, the struggle to stay in business is far from over for thousands of operators because of Labor, Inflation, and Supply Chain problems.
While chains like Ruby Tuesday and Golden Corral have teetered on the brink of disaster, it’s really the independent restaurants the local mom and pops without corporate backing that the pandemics caused financial problems.
A recent survey by the Independent Restaurant Coalition reports that 42% of independent restaurants that “didn’t” receive government aid are nearing bankruptcy.
Nearly 90,000 restaurants, and bars didn’t receive financial aid and now find themselves facing bankruptcy. 28% of these under-funded independent businesses have either already received or are expecting to receive eviction notices.
Some 25% have sold off personal assets, 30% have decreased their employees, and 49% have laid off staff in order to stay afloat.
A restaurant trade group is saying restaurant bankruptcy is higher at more than 86% of independent restaurants that have not received COVID-19 financial relief are in danger of closing.
The ongoing Covid-19 pandemic has made those odds infinitely worse. After months-long bans on indoor dining and a slow rebound in consumer confidence, restaurant sales across the country were down $240 billion in 2020 from their expected levels.
Proverbs 22:7 The rich ruleth over the poor, and the borrower is servant to the lender.
Luke 16:11 If therefore ye have not been faithful in the unrighteous mammon, who will commit to your trust the true riches?
Proverbs 6:6 Go to the ant, thou sluggard; consider her ways, and be wise:
Proverbs 6:7 Which having no guide, overseer, or ruler,
Proverbs 6:8 Provideth her meat in the summer, and gathereth her food in the harvest.
Proverbs 6:9 How long wilt thou sleep, O sluggard? when wilt thou arise out of thy sleep?
Proverbs 6:10 Yet a little sleep, a little slumber, a little folding of the hands to sleep:
Proverbs 6:11 So shall thy poverty come as one that travelleth, and thy want as an armed man.
Read more at: https://www.transformedbythetruth.com/a-wave-of-bankruptcies-and-foreclosures-coming-soon/
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