Economic crash of pandemic leaves some businesses with considerable debt

Mobile County

MOBILE, Ala. (WKRG) — The Coronavirus pandemic is a health crisis and an economic crisis. Several businesses have been forced to close their doors. Some families have been left with a mountain of debt on top of losing their livelihoods. From the custom art on the walls to the Mobile skyline overlooking their new putt-putt course, owner Jeremy Abbott says they put everything they had into Lazer-Zone of Mobile.

“That was by far the most challenging to make it fun and interactive for kids and adults alike,” said owner Jeremy Abbott. This week they had one last night of fun for employees before officially closing for good. He says the two-month shutdown led to a debt of more than half a million dollars, something he says they can’t overcome. Now he’s crowdsourcing some of that debt relief and looking for a buyer to hopefully revive Lazer-Zone.

“I believe with the right structure and the right setup it could be successful in the operations of it,” said Abbott. Abbott says he got assistance from the Paycheck Protection Program and SBA but it’s not enough to cover expenses.

“We would need the support of Mobile and the surrounding community for the existing small businesses here in Mobile we really need your support, local support is huge,” said Abbott. He says he has a week, maybe two to sell it and prays something will work out–but acquiring more debt is something he says he can’t do to his family. A link to the crowdfunding page is here.

LATEST STORIES

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

State Cases State Deaths

Latest Videos

More Video

More Local News

3-Day Forecast

Trending Stories