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Showing posts with the label COVID Investing

Saving and Investing in the COVID Age

In April, Gold’s Gym proactively closed 30 company-owned gyms; and by May, they declared bankruptcy. In making that decision, it meant that they separated themselves from “nearly 700 gyms around the world.” J.Crew joined them by  filling for Chapter 11 protection in early May.  Since then retailers have either gone bankrupt or filed for Chapter 11. In the US, Neiman Marcus, J.C. Penney, Tuesday Morning, PQ New York, Lucky Brand, Brooks Brothers and Sur La Table. In Canada, David’s Tea, SAIL Outdoors Inc, Henry's and Aldo did the same.  The 85 year old vitamin company called GNC saw a 30% drop in their store sales; while 24 Hour Fitness couldn’t provide their chief product - a place to exercise. Both filed for bankruptcy in June.  While, in the same month, CEC Entertainment - a company which owns 550 Chuck E. Cheese and Peter Piper Pizza locations - after COVID lockdowns found itself doing an oxymoronic and/or paradoxical thing: on one day, they both reopened 266 venu...