Las Vegas at top of list for permanent business closures

Local News

LAS VEGAS (KLAS) — Businesses are permanently closing at a higher rate in Las Vegas than other Metro areas, according to new data released by Yelp.

The study, which shows nationwide economic impact from the COVID-19 pandemic, indicates 2.11% of Las Vegas businesses closed at some point. And while almost half of those closures were temporary, 1.11% were permanent.

The graphic below, provided by Yelp, shows closures per 1,000 stores.

Las Vegas ranked third overall in Metro areas with the highest combined rates of temporary and permanent closures, behind Honolulu and San Franciso, and just ahead of five California Metro areas — San Diego, San Jose, Riverside, Los Angeles and Sacramento.

Statewide numbers showed Hawaii as the hardest hit, with California and Nevada ranking second and third for combined closures. Nevada topped the list for permanent closures, with 10.1 per 1,000 businesses.

Another look at the sheer numbers rather than closure rates showed the most businesses closing in the most populous states — California and Texas.

Restaurants are the hardest-hit sector, with 32,109 closures nationwide. Yelp did not provide data on types of closures for each Metro area.

The survey indicates that 163,000 businesses have closed in total, and 100,000 of those will probably never reopen.

SEE ALSO: Nearly 100,000 businesses have permanently closed since March, Yelp lists hardest hit shops

Yelp collected counts of businesses each day starting on March 1. Yelp listed a business as closed only if the owner updated their page, or if Yelp staff vetted the information that the business was no longer open. Also, some businesses fall into more than one category, which skews some of the counts for types of businesses.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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