NHL lockout devastating fans and local businesses

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With the fans disappointed and lack of the traditional hockey season revenue flow, local business are barely holding on, news sources report.

Local businesses near the Xcel Energy Center are struggling into a stalemate with no end in sight. It has been an 83 day struggle thus far and many bars and restaurants say there has been a significant drop in business, taking away 40 to 50 percent of their usual annual revenues. The lack of Wild home games are taking a turn for the worst for bars, restaurants, workers and vendors, CBS Minnesota reports.

A roundtable discussion was held Friday, talking about aiding small businesses struck by the lockout. The Small Business Administration (SBA) is offering microloans as well as free marketing and business advice, to help the small business hold on until the problem is resolved, The StarTribune reports.

"There are hundreds of thousands of people that are affected by this," Pub owner Tom Reid said. "Not just the business owners around the rink, but all through the different industries." On a game night, a staff of 35 is needed to keep the crowds happy, but lately crews top out at 5 or 6 workers, Reid said. "These next couple of days are extremely critical," NHL writer Michael Russo said. "They've got to gain traction here and if they don't, the season could very well be in jeopardy," Kare 11 reports.

Some businesses will survive the lockout if the entire season is lost, but it is known that there are a few small businesses that won't survive the lockout, Mayor Chris Coleman said, CBS Minnesota reports.

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This page contains a single entry by curti282 published on December 9, 2012 10:57 AM.

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