Chain Reaction! Over 1,000 Big Name Restaurants In NYC Have Closed In 2020.

The number of places to grab a bite or pretty much anything else in the Big Apple is becoming smaller by the day, as lockdowns continue to drive restaurants and chain stores out of NYC. More than 1,000 chain stores have fled the city this year, according to the Center for an Urban Future’s annual “State of the Chains” report.

The record high 1,057 chain stores that have closed shop this year include Starbucks, Dunkin’ Donuts and Duane Reade/Walgreens.

Dunkin’ Donuts is still on top when it comes to New York City’s biggest retail chain, with 608 stores; however, the chain did close 18 stores there this year, marking the first year-over-year decline in the city for DD.

A look at the numbers shows just how bad the mass exodus has become. Starbucks has closed 49 of its 351 coffee shops, GNC has shuttered 51 of its 99 stores, Victoria’s Secret has closed nine of 22 retail locations, and Duane Reade/Walgreens has now closed 70 of its 247 stores.

The lockdowns, along with people deciding to just stay home during the pandemic, have led to a sharp rise in online shopping and people deciding to work out from home. That has led to gyms and fitness centers taking a hit; SoulCycle closed all 21 of its locations in the city.

Businesses aren’t the only ones leaving. A study released last week by Unacast, a location analytics company, suggested that a net 70,000 people have left New York City this year, resulting in $34 billion in lost income.

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