Business owners who lost money because they happened to operate where George Floyd was killed by a Minneapolis cop have lost a lawsuit alleging the city had essentially taken their property.
The Minnesota Court of Appeals ruled against CUP Foods and other companies that suffered declining income in 2020, the year Floyd died outside their property. Four brothers owned CUP Foods, Southside Electronics, NMA Investments, 3759 Chicago Ave. and Menthol Tobacco.
Business was stunted by memorials, roadblocks and increased violence after Floyd’s killing on May 25, 2020. Citizens created a “No Go Zone” in the area and, despite a $50,000 forgivable loan program for businesses in the area, numbers fell dramatically.
In 2021, CUP Foods’ sales fell 11% from 2019. Menthol’s and Southside’s each went down by half over the same span, and Southside closed in 2023…