In the first quarter of 2020, just before the crisis generated by covid-19 began, there were 72,972 formal businesses registered in Costa Rica. In the second quarter the figure fell 6% and by September there was a slight recovery.
Data from the Costa Rican Social Security Fund indicate that between the first and second quarters of the year the number of registered companies fell from 72,972 to 68,946. At the end of the third quarter the figure recovered slightly, with 69,412 companies registered.
As a result of the closure of Grupo Lala's factory in Costa Rica, the 37 thousand liters of milk that 70 local producers sold daily to the company of Mexican origin were left without a buyer, however, Dos Pinos promised to acquire the product.
On December 1st Grupo Lala informed that it will close the milk plant that operates in the province of Alajuela. According to the company, the factory will stop operating on December 11th.
Because the company will focus on other markets, starting December 17, it will close the store that was engaged in the marketing of motorcycles and accessories of the American brand Harley-Davidson.
According to information provided by Red Motors, a company that sells motorcycles in the Costa Rican market, the closing of operations is because the brand plans to focus on 50 specific markets, especially in North America, Europe and parts of Asia.
Arguing that there is greater potential for sustainable and profitable expansion in Nicaragua and Guatemala, the Mexican business group dedicated to dairy production decided to close the operations of its production plant in Costa Rica.
The U.S. company, which still operates a plant in the country for the production of sandpaper and adhesive tapes, has begun the process of relocating its operations, which includes the closure of the factory operating in Heredia.
According to information released by the company, the closure of the industrial complex located in Santa Rosa de Heredia, follows a business strategy and is not a consequence of the economic crisis that generated the outbreak of covid-19.
Arguing that the decision is due to the commitment of the search of the profitability, from November 8 the Spanish company of transport by application will stop offering its services in Santo Domingo and Panama City.
As a result of a constant process of analysis of the markets in which it operates, the company has made the strategic decision to stop its service in both capitals, the company said in a statement.
As a result of the emergency that Costa Rica is going through due to the spread of the coronavirus, Bridgestone announced that it will temporarily close its industrial plant located in Belen, Heredia.
The company announced that its plant will remain inactive from March 26 to April 12 and that none of the 1,000 employees working on the premises will be dismissed.
The TGI Friday's chain decided to close its store located in the Oxygen Human Playground shopping center, in the province of Heredia, for a 90-day period.
"As you know, the food and beverage sector has been highly impacted, which is why we have taken the measure to suspend operations at our Friday's Oxygen store," explained a statement issued on March 21 by the company.
Identifying critical business needs and setting up plans on how to maintain supplies and operations, as well as establishing communication channels with suppliers to be informed in case of any eventuality, are part of the advice for companies.
The coronavirus has already affected the world economy, and its effects do not seem to stop.
Tony Roma's decided to close its operations in the country as of January 17, adding to the recent restaurant closures that have been reported in recent months.
According to signs placed at Tony Roma's restaurant in San Rafael de Escazu, the closure is due to a remodeling, however, according to letters given to the former workers, the reason for the dismissal is because of the closure of the business in the country.
The Hooters chain announced that since February 3rd it closed definitively the establishment that was in Moravia, arguing that the sales levels required to be sustainable were not reached.
An official statement details that the closure was made because of " particular circumstances of the area (Moravia) that have occurred during the last year."
Arguing that there were problems of profitability, the Applebee's chain decided to close the three service centers it was operating in the country.
The restaurant franchise was operated in Costa Rica by the company Dine Equity, and the premises that were closed were located in Terrazas de Lindora, San Pedro and Cariari.
In the first nine months of 2019, 4,715 companies were closed, 13% more than the total number of companies closed during the whole of 2018, which could be because of the entry into force of the Personal Income Tax Law.
Since 2017, the year in which the Corporate Income Tax Law came into force, the number of corporations that closed their operations in the country began to increase.
The German company, Amoena, reported that it will close its operations in the country, arguing that its main textile suppliers moved their operations to Asia and need to get closer to that market.
The company is a producer of bras, bathing suits and other products for women who have suffered from breast cancer and underwent mastectomies.
The company reported that by 2020 will close its Financial Shared Service Center in Costa Rica, as part of a corporate strategy focused on fewer centers, but larger.
"While we will close this center, Amway remains committed to the Costa Rican market and will continue to provide support to our businessmen and customers, our commercial operations in Costa Rica will continue normally," states a company statement.
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