HONOLULU, Hawaii (HawaiiNewsNow) - A soaring number of business failures during the pandemic are turning into windfall for a company that prints “business closing” and “space available” signs.
“As we are at the end of October, unfortunately we’re seeing the signage now is ‘going out of business’ signage,” said Jean-Paul Gedeon, CEO of JPG Hawaii.
Companies like JPG are among the few that have actually thrived during the pandemic.
Retailers needed social distancing signs and restaurants needed signs saying they were open for take-out service.
But with the pandemic now in its seventh month, more and more companies are calling it quits — including some of Gedeon’s clients.
“So it doesn’t feel good because you see people’s work, their blood, sweat and tears," he said.
Although Hawaii’s economy is slowly reopening, experts are predicting that business closings will continue to increase, at least until the end of the year.
“Every report shows a higher number of businesses are closing and are expected to close. The trend will continue,” said Ryan Tanaka, of Island Business Management LLC.
Meanwhile, Gideon said the the increase demand is bittersweet because for every business closing sign he makes, he’s losing one more customer.