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Originally Posted by Vin
I bet they raked up lots of losses these couple of years, and especially during the last few months.
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Everyone has suffered losses during COVID, that's a given. As for the last couple of years, you will believe what you want to, without any information or facts to support it.
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As far as I can tell, only Starbucks stores are closing, most other local chains in the downtown area are still thriving.
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If you think that local businesses are thriving downtown right now, you're delusional.
In addition, many competitors are individually-owned or franchised. An individual giving up on their dream or selling their source of income is much different than a company closing something corporately-owned. They don't care if one location closes and the customers finds another nearby. It's all the same to them. Franchisees will hold out much longer even under worse conditions, I imagine.
Tim Horton's, McDonalds, JJ Bean, etc. already have far fewer locations as well. So the comparison doesn't hold.