Retail Chains Abandon Manhattan: ‘It’s Unsustainable’

  • Date: 11-Aug-2020
  • Source: The New York Times
  • Sector:Economy
  • Country:Oman
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Retail Chains Abandon Manhattan: ‘It’s Unsustainable’

The Coronavirus OutbreakliveLatest UpdatesMaps and CasesVaccine TrackerRussia Approves VaccineMarkets & EconomySome national chains, both retail and restaurants, are closing outlets in New York City, which are struggling more than their branches elsewhere.A Gap store near Rockefeller Center. Many companies have kept their stores closed in New York, even as they have opened stores in other parts of the country. Credit...Hiroko Masuike/The New York TimesBy Matthew Haag and Patrick McGeehanFor years, Bryant Park Grill & Cafe in Midtown Manhattan has been one of the country's top-grossing restaurants, the star property in Ark Restaurants' portfolio of 20 restaurants across the United States.But what propelled it to the top has vanished.The tourists are gone, the office towers surrounding it are largely empty and the restaurant's 1,000-seat dining room is closed. Instead, dinner is cooked