Instruction
Please read the uploaded articles on "Pier 1 Import", "Dairy Industry Crisis" and "Businesses filing bankruptcy or bankruptcy protection", and study Learning Module 3 on the General Environment that affect the industries and businesses in it, then discuss the following question. The articles show that multiple business sectors are facing challenges in today's market, filing Chapter 11 or Chapter 7 (bankruptcy protection or bankruptcy), or closing their stores. Please select TWO industries from the following list and discuss which specific factors in the "general environment" pose threats to these industries. a. clothing; b. dairy products; c. department stores; d. food/restaurants; e. any other industries you would like to discuss that are facing challenges. Please remember to post your own thread, then "reply" to another post in your class. reply to this: "A major factor that posed a threat to retail stores and restaurants is covid. Due to the coronavirus many retailers and restaurants have filed for bankruptcy within the first couple of months of 2020. Lucky Brand, JCPenny, California Pizza Kitchen, Brio Italian restaurant, etc. all filed for bankruptcy because nobody wants to go in-person shopping or dining during the pandemic and risk getting covid. Pier 1 closed up to 450 of their stores which resulted in a huge loss of sales. Delivery apps are also a threat to fast food/restaurants. Apps like Postmates, Uber Eats, Grubhub, and DoorDash have all caused people to stop dining inside at restaurants. People would rather choose to have their food delivered to their door rather than dine in and risk getting a virus. With the coronavirus still going on, businesses like retail stores and fast food/restaurant chains will continue to decline and result in bankruptcy."