SMBs, Department Store Chains Contend With Pandemic’s Impact

The pandemic continues to put usual business operations on unsteady ground across several industries, bringing about disastrous financial effects. Small to medium-sized businesses (SMBs) are especially grappling with a loss of revenue, which has led to a number of them to close down in the U.S. And the pandemic is creating some dark days for department stores domestically and across the pond in the U.K. All this, Today in Data.

Data:

2,123: Number of U.K. stores operated by 38 large and medium-sized retailers that fell into administration in the first six months of 2020.

130M: Quantity of paper stimulus checks the IRS sent to customers as of the end of May.

90%: Share by which Kohl’s digital sales surged year over year in May.

75%: Approximate portion of U.S. SMB owners who find PPP loan terms difficult to understand.

24: Number of weeks SMBs have to fully spend their PPP loans as opposed to the original eight weeks.