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How long will it take for businesses to bounce back from COVID-19?

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ILLINOIS (WEEK) -- The company behind Logan's Roadhouse and Old Chicago has fired nearly all of its 18,000 employees nationwide.

This comes after a bankruptcy filing in March and amid the COVID-19 pandemic.

Logan's Roadhouse has a temporarily-closed location in East Peoria, and Peoria is home to an Old Chicago, which is still open.

Bankruptcy means permanent closures could be coming to both.

Colin Corbett, an assistant professor of economics at Bradley University, says we can expect the local economy to continue to take a hit in the short run.

But a rebound will depend on certain factors.

"Nobody is really certain when the pandemic is going to pass," Corbett said, "but once it does it'll depend a lot on the government's continued response, on people's demand for going out to restaurants and stuff after they've been cooped up for a while."

Prof. Corbett says the response to the nation's struggling economy has to be secondary to the public health response, but he believes the restrictions and economic losses will eventually prove worthwhile.

Sheridan Swathwood

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