“I had to borrow $700 to buy some wood, just to put the boards together to close up where (the rioters) came in from, to close the building. It’s just too much, you know,” added Yaacoub, who carries insurance coverage for fire damage but isn’t certain when or how much he might be paid to begin a rebuild. A friend launched a fund to help pay for the market’s restoration.
I don’t know about this particular business. But, most retail storefront businesses are in leased space. Which means that we’ll have to see if the landlord’s master insurance policy covers damage caused by rioting or civil unrest. Then, see if the landlords choose to rebuild, because even if covered by insurance, they may choose not to rebuild. In which case, a small businessman such as this man will have no choice; he’ll have to relocate or close his business altogether.
Some neighborhoods in some places such as Detroit, remained wastelands decades after the riots of the ‘60s. We can’t take as a given that these businesses will come back.
It took Asbury Park, NJ nearly 40 years to come back after its riots. And it still has dicey areas and many nice businesses that simply can’t make a go of it.
I feel so sorry for these people who lost their businesses and jobs.