Few stores have been able to avoid the painful effects of the current recession, but mom-and-pop stores, without the deep pockets of national chains, are particularly vulnerable to the downturn. And, it turns out, these locally-owned stores are getting particularly hard hit in Brooklyn. According to a study by Rep. Anthony Weiner’s office, 14.1 percent of small stores in Brooklyn are now vacant, compared with 12.2 percent in Queens and 9.1 percent in the Bronx. When the economy catches a cold, small businesses catch pneumonia, said Mr. Weiner, in a press release. Too many community shops—the backbone of the city’s economy, are hit hard by this downturn.
Brooklyn Stores Hit Hardest by Retail Slump [Crain's]