Earlier quoted context omitted.
The virus would have shut them down anyway if they had stayed open and their employees and customers became ill. The bad decision making here is the lack of foresight to keep cash on hand to weather a storm like this, despite making record profits in the billions. We are all told if we don’t keep 6 months of cash on hand we are financially negligent. Large companies were begging for money within two weeks of shutdown…
Sweden shows that view is wrong.
Bay area issued the first national stay at home order on March 13. By then demand had already dropped precipitously. If your restaurant is seeing 60% fewer bookings, are you going to keep as many wait staff? Are you going to order as much food? How is that going to impact your supplier? And their supplier?
On the flip side we have places like Smithfield food that stayed open and their workforce became infected. Smithfield alone has as many infected as the entire country of Sweden reported newly infected yesterday. These are problems of different orders of magnitutde. How does a factory stay open with 500 people infected at once?