Posts Tagged ‘COVID’

Pandemic Restrictions Transform Small Business Profits and Survival

Small Business Adapts To Pandemic Economy

As the pandemic restrictions press into its eighth month, small businesses are feeling the squeeze the most. There has been a 22% reduction in business activity nationwide (NBER), that’s 3.3 million inactive American business, some of which have closed permanently due to COVID-19 restrictions and the economic fallout that followed. And according to estimates from…

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Pandemic Restrictions May Provide An Exit From Contract Obligations

Pandemic Restrictions May Provide An Exit From Contract Obligations | West Coast Franchise Law

In what is probably an unprecedented decision, the United States Bankruptcy Court for the Northern District of Illinois has ruled that governmental shutdowns and restrictions imposed to curb the spread of COVID-19 could be considered a Force Majeure event and give a business a valid reason to exit from contract obligations during the pandemic. On…

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