Canada business Restaurants Canada

Half of Canadian restaurants operating at a loss or ‘just breaking even’

Reading now: 821

Restaurants are facing a bumpy road to recovery after years of pandemic-related challenges. They’re now dealing with rising expenses, low customer counts, high debt and low profitability, according to Restaurants Canada. “Restaurant operators are struggling financially, with half of our operators operating at a loss or just breaking even,” said Christian Buhagiar, the CEO of the national organization. “Those that are making money, it’s like two to three per cent, so those margins are extremely thin,” added Mark von Schellwitz, Restaurant Canada’s vice-president for Western Canada. Read more: Award-winning Edmonton-area restaurant implements ‘crisis pricing’ as food costs soar “They’re doing everything they can to get through this. “It’s a resilient and innovative industry and we’ve had to do all sorts of things over the last couple of years just to keep our doors open.

But as a result of that, we do have what I call the post-pandemic hangover and there are a number of obstacles that are preventing us from fully recovering, the labour shortage being one of them, the inflationary costs on everything — all our inputs are going up significantly. “Plus, with 85 per cent of our members taking on debt during the pandemic, you’ve got a rising interest rate environment. “And, as a result of the labour shortage alone, we’ve got a lot of our restaurants only operating at about 80 per cent capacity because they simply don’t have the staff to be fully open,” von Schellwitz said.

Restaurants Canada expects nominal sales to return to pre-pandemic levels before the end of the year. Traffic still remains below 2019 levels. “We’re really pleased a lot of restaurant guests are coming back,” von Schellwitz said. “We certainly want to

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Ringo Starr: Beatles legend, 82, forced to cancel US tour with band after catching Covid - - Usa - county Lake - Canada - state Minnesota - county Buffalo - county Centre - state Michigan
Ringo Starr: Beatles legend, 82, forced to cancel US tour with band after catching Covid
Ringo Starr has been forced to cancel his US tour dates after catching Covid.The former Beatles musician, 82, was set to play a string of dates in America with his band All-Starr before he fell ill.The drummer is said to be "recuperating at home" after it was confirmed the star had caught Covid.Two shows had preivously been cancelled at the last minute after the musician fell ill at the weekend.The musician's spokeperson confirmed: "Ringo Starr and his All Starr Band were forced to cancel their recent shows at Four Winds Casino in New Buffalo Michigan and at Mystic Lake Casino in Prior Lake, MN due to illness."It has been confirmed today that Ringo has Covid and the tour will be on hold while Ringo recuperates."As of today the following shows have been canceled: October 2 Prior Lake, MN - Mystic Lake Casino, October 4 Winnipeg, Manitoba - Canada Life Centre, October 5 Saskatoon, Saskatchewan - Sasktel Centre, October 6 Lethbridge, Alberta - Enmax Centre, October 8 Abbotsford, BC - Abbotsford Centre, October 9 Penticton, BC - South Okanagon Events Centre.They went on: "Ringo hopes to resume as soon as possible and is recovering at home."As always, he and the All Starrs send peace and love to their fans and hope to see them back out on the road soon," his representatives added to The Mirror.
Female-headed homes hard hit by acute food insecurity in Sri Lanka - - Usa - Sri Lanka - Britain - Eu
Female-headed homes hard hit by acute food insecurity in Sri Lanka
COLOMBO (News 1st) – Asia’s highest inflation rates and ongoing fuel scarcity continue to threaten food security in Sri Lanka. Sri Lanka continues to experience an unprecedented economic crisis with high inflation, rising commodity prices, power shortages and scarcity of fuel.The World Food Program said that Asia’s highest inflation rates and ongoing fuel scarcity continue to threaten food security in Sri Lanka. According to the World Food Programme (WFP), an estimated 6.2 million people in Sri Lanka are facing moderate to severe acute food insecurity, with one in every four households applying negative coping strategies such as reducing the number of meals per day, reducing expenses on other essential things such as healthcare or withdrawing children from school. Female-headed households are seen to be particularly hard it, as are the urban poor and people working in the estate-sector.The United Nations Office for the Coordination of Humanitarian Affairs said that given the deteriorating food security and nutrition situation in Sri Lanka and the strong likelihood that the upcoming Maha season will not produce sufficient yields, several countries have pledged further assistance, especially towards improving food security and the critical inputs for the agriculture sector. The United States Agency for International Development (USAID) announced an additional US$20 million in humanitarian assistance, bringing USAID’s total assistance to nearly US$92 million since June of this year. The United Kingdom pledged £3 million in lifesaving support going mostly toward food security and supporting farmers, while the EU released €1.5 million in humanitarian aid which will mainly be utilized for multipurpose cash assistance.The final