As “non-essential” businesses adjust to a new reality amid the coronavirus outbreak, Jonesboro, Arkansas, property owner, Young Investment Company, announced Tuesday night they do “not expect… restaurants tenants to pay April rent.”
In an effort to do our part, Young Investment Company will not expect it’s Restaraunt tenants to pay April rent. We ask…
The property owner aims to alleviate the burden placed upon tenants in its downtown Jonesboro properties— popular restaurants, including Eleanor’s Pizzeria, Roots, Main Street Coffee, The Parsonage, and City Wok.
Clay Young, of Young Investment Company, pushes for owners to “pay your employees and take care of your family. We will get through this together.”
Many small businesses and workers in service, fitness, childcare, beauty, and other industries are suffering the consequences of considerably decreased economic activity as the government forces closures and people follow national guidelines to practice social distancing.
“This past weekend, we saw a 60 percent cut in attendance in what we were bringing in revenue-wise,” said John Myers, co-owner and chef at The Parsonage.
“This is a crisis that the restaurant industry has never faced before,” said Paula Lowe, co-owner and executive chef at Roots. “There’s nothing that we can change. Every day is day-by-day.”
Both Myers and Lowe are moved by Young’s gesture.
“I’ve been in this industry for 27 years and I’ve never seen anything like this,” Lowe said. “Mr. Young doing that for us this month…that money goes straight to the employees,” added Myers.
Young’s decision to forego April rent follows the trend of actions taken by other small businesses and property owners working to offset costs for people during this difficult time.
“It was just the right thing to do,” he said.