The owner of Eastland Mall, which last month signaled it was in trouble as tenants struggled to pay rent during the pandemic, plans to file for bankruptcy as part of a debt restructuring.
As COVID-19 continues to hang over the economy, more insurance companies say they’re pessimistic about revenue growth and likely to shed employees in the next year, according to a new labor market study.
Thousands of people are traveling this summer to COVID-19 hotspots and coming back to the Bloomington-Normal and the Tri-County areas — and none of them are being told to quarantine when they return.
The Peoria-based OSF Healthcare system will borrow $450 million this fall with the money financing construction of a new comprehensive cancer center in Peoria.
Bloomington-Normal's jobless rate stayed stuck in double digits in June for the third straight month, the Illinois Department of Employment Security reported Thursday.
The owner of a Bloomington nursing home where 11 people died after contracting COVID-19 has accepted $20 million in loans through the Paycheck Protection Program—about 200 times the average amount for a program designed to help much smaller businesses.
The COVID-19 pandemic has put tens of millions of people out of work and dramatically changed the American way of life. It's not an easy time to open a business.
Bloomington-Normal hotels have rolled out expanded cleaning programs in response to the coronavirus, even as they expect fewer guests through the rest of this year.
The electric automaker Rivian has pulled in another $2.5 billion—its largest single investment round to date—as it prepares to begin production in Normal.
Bloomington-Normal businesses and other organizations were approved to borrow at least $130 million through the federal Paycheck Protection Program, with the most money going to restaurants and doctor’s and lawyer’s offices, according to a WGLT review of the loan data.
A Twin City economics professor says aggressive action by Congress and the Federal Reserve helped spare an economic calamity during the pandemic. But Mike Seeborg at Illinois Wesleyan University said it will be too costly to continue these financial lifelines much longer.
Many businesses who have been struggling since the pandemic began in March hope Illinois’ transition to Phase 4 will allow them to recover after three cash-strapped months.
Businesses, schools and other organizations are starting to reopen while reducing coronavirus risk. They also must protect themselves from legal liability if there is a breakout.
Another 2,800 people in the Bloomington-Normal area filed for jobless benefits for the first time in May, fewer than the two previous months but still worse than at the peak of the Great Recession, the state reported Thursday.
The owner of Eastland Mall says it has “substantial doubt” about its future as it’s unable to collect rent from most of its retail tenants that are struggling because of the pandemic.
Mayor Lori Lightfoot says Chicago will proceed with its next stage of reopening after coronavirus stay-at-home orders despite days of unrest and violence. Vandalism and violent clashes have followed peaceful protests citywide after George Floyd's death.
McLean County residents struggling financially because of COVID-19 could need up to $2.7 million in housing assistance in just the next three months—and a new community coalition says it’s got a plan to meet that challenge.
Janis Hollins is a landlord who knows what it’s like to be on hard times.
Hollins and her husband, Andrew, were literally homeless for four days after losing their jobs and their house during the real estate crash of the Great Recession.
A Bloomington businessman says his new company’s temperature scanners may help speed up reopening the economy by giving workers and customers peace of mind.
