* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, September 27, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Cardi B Adds More Dates to Little Miss Drama Tour: ‘Y’all Making Me Work’ – Yahoo

    Cardi B Extends Little Miss Drama Tour: “Y’all Making Me Work

    ‘Today’: Sheinelle Jones Thanks Katie Couric for Support After Husband’s Death – CBS 19 News

    Sheinelle Jones Expresses Heartfelt Thanks to Katie Couric for Support After Husband’s Passing

    Sate your hunger at DBA’s Taste of Downtown – Bakersfield.com

    Indulge Your Cravings at DBA’s Taste of Downtown!

    Caesars Entertainment (CZR): Assessing Valuation After Times Square Casino Setback and Mounting Investor Concerns – simplywall.st

    Caesars Entertainment Faces Times Square Casino Hurdles as Investor Concerns Mount

    Why Hilaria Baldwin Has Found the ‘DWTS’ Process ‘Embarrassing’ At Times – WFXG

    Hilaria Baldwin Opens Up About the Embarrassing Moments on Her ‘DWTS’ Journey

    Harvest Fest 2025 – yadkinripple.com

    Celebrate the Bounty: Harvest Fest 2025 is Coming!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Aurora police hope to add facial recognition technology to crime-fighting tools – CBS News

    Aurora Police Aim to Boost Crime-Fighting with New Facial Recognition Technology

    Autonomous Solutions shows off cutting-edge technology for the public – Cache Valley Daily

    Autonomous Solutions Unveils Cutting-Edge Technology for the Public

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    What are we really gaining from technology? – Fast Company

    What Are We Really Gaining from Technology?

    TOMI Environmental Solutions, Inc. Expands SteraMist iHP Technology Services in Healthcare Sector with New Provider Partnership – Quiver Quantitative

    TOMI Environmental Solutions Accelerates SteraMist iHP Technology Expansion in Healthcare with New Provider Partnership

    Indiana County Technology Center’s Joint Operating Committee looks to the future as program plans began to take shape – Indiana Gazette Online

    Indiana County Technology Center’s Joint Operating Committee Charts an Exciting Path Forward as New Program Plans Take Shape

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Cardi B Adds More Dates to Little Miss Drama Tour: ‘Y’all Making Me Work’ – Yahoo

    Cardi B Extends Little Miss Drama Tour: “Y’all Making Me Work

    ‘Today’: Sheinelle Jones Thanks Katie Couric for Support After Husband’s Death – CBS 19 News

    Sheinelle Jones Expresses Heartfelt Thanks to Katie Couric for Support After Husband’s Passing

    Sate your hunger at DBA’s Taste of Downtown – Bakersfield.com

    Indulge Your Cravings at DBA’s Taste of Downtown!

    Caesars Entertainment (CZR): Assessing Valuation After Times Square Casino Setback and Mounting Investor Concerns – simplywall.st

    Caesars Entertainment Faces Times Square Casino Hurdles as Investor Concerns Mount

    Why Hilaria Baldwin Has Found the ‘DWTS’ Process ‘Embarrassing’ At Times – WFXG

    Hilaria Baldwin Opens Up About the Embarrassing Moments on Her ‘DWTS’ Journey

    Harvest Fest 2025 – yadkinripple.com

    Celebrate the Bounty: Harvest Fest 2025 is Coming!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Aurora police hope to add facial recognition technology to crime-fighting tools – CBS News

    Aurora Police Aim to Boost Crime-Fighting with New Facial Recognition Technology

    Autonomous Solutions shows off cutting-edge technology for the public – Cache Valley Daily

    Autonomous Solutions Unveils Cutting-Edge Technology for the Public

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    Amazon to Pay $2.5 Billion in Prime Membership Settlement – The New York Times

    What are we really gaining from technology? – Fast Company

    What Are We Really Gaining from Technology?

    TOMI Environmental Solutions, Inc. Expands SteraMist iHP Technology Services in Healthcare Sector with New Provider Partnership – Quiver Quantitative

    TOMI Environmental Solutions Accelerates SteraMist iHP Technology Expansion in Healthcare with New Provider Partnership

    Indiana County Technology Center’s Joint Operating Committee looks to the future as program plans began to take shape – Indiana Gazette Online

    Indiana County Technology Center’s Joint Operating Committee Charts an Exciting Path Forward as New Program Plans Take Shape

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

More hardship ahead for Canada’s restaurant sector, warns global credit rating agency

January 17, 2024
in Business
More hardship ahead for Canada’s restaurant sector, warns global credit rating agency
Share on FacebookShare on Twitter

More than half of Canadian restaurants are operating at loss or barely breaking even

Published Jan 17, 2024  •  3 minute read

Canadian Federation of Independent Business warns that one of every five Canadian restaurants faces the risk of closure.Canadian Federation of Independent Business warns that one of every five Canadian restaurants faces the risk of closure. Photo by Azin Ghaffari/Postmedia

Canada’s restaurant sector could be in for a rough ride this year as belt-tightening consumers and a looming deadline for the repayment of pandemic loans take their toll, says a global credit rating agency.

“The effects of aggressive interest rate increases have not yet been fully felt by consumers directly nor by the economy as a whole,” DBRS Morningstar said in its 2024 Restaurant Outlook, released Jan. 17.

Advertisement 2

This advertisement has not loaded yet, but your article continues below.

Financial Post

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, Victoria Wells and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, Victoria Wells and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.

REGISTER TO UNLOCK MORE ARTICLES

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.

Article content

Article content

The agency said it foresees a potential improvement in operating conditions in late 2024, but that’s contingent on how disinflation and interest rate shifts influence consumer behaviour. Regardless, ongoing pressures and the accumulated effects of multiple challenging years are projected to persist, and will affect the credit-risk profiles of restaurants throughout 2024.

“The restaurant industry has had to endure significant hardships over the past few years. Acknowledging some geographic nuances, restaurant traffic generally only recovered toward pre-pandemic levels in 2022,” the agency said, adding that macroeconomic challenges since then have gained momentum.

“Consumers’ purchasing power was squeezed during (2023), leading to considerable changes in their behaviour as consumers tried to stretch their wallet. These changes naturally also extended to the restaurant industry.”

Despite pent-up demand, consumers globally reduced dining out in 2023, with restaurant traffic decreasing by low single digits on a year-over-year monthly basis.

By signing up you consent to receive the above newsletter from Postmedia Network Inc.

Article content

Advertisement 3

This advertisement has not loaded yet, but your article continues below.

Article content

According to DBRS Morningstar, 53 per cent of restaurants in Canada are now operating at a loss or barely breaking even, compared to the pre-pandemic rate of 10 per cent. There was also an almost 40 per cent year-over-year increase in bankruptcies within the Canadian accommodation and food services industry for the 12 months ending Nov. 30, 2023.

Adding to the challenges, the repayment deadline for Canada Emergency Business Account (CEBA) loans is Jan. 18. The Canadian Federation of Independent Business (CFIB) predicts that hundreds of thousands of small businesses may see a 50 per cent increase in their pandemic debt due to an inability to make the repayment.

In recent months, the restaurant industry and small-business groups have requested a deadline extension from the federal government, but their pleas have gone unanswered.

“The Canadian Federation of Independent Business is very disappointed that the federal government has ignored the pleas of tens of thousands of small business owners to give them more time to repay their Canada Emergency Business Account loans in order to keep the forgivable portion,” CFIB said in a Jan. 17 news release.

Advertisement 4

This advertisement has not loaded yet, but your article continues below.

Article content

As per the loan terms, business owners must repay up to $40,000 on their loans or seek refinancing from the original issuing bank by Jan. 18, 2024, to qualify for the forgivable portion of up to $20,000. Missing this deadline could result in businesses seeing their CEBA debt increase from $40,000 to $60,000.

“Ottawa failed to address the most critical issue on outstanding CEBA loans — the loss of the forgivable portion,” CFIB president Dan Kelly said in the release. “I believe the government will regret the decision to not grant more time as small businesses fail and default on their entire loan. For many businesses, CEBA will be the straw that breaks the camel’s back.”

Recommended from Editorial

According to the CFIB, one in five restaurants in Canada are at risk of not surviving.

One in five restaurants in Canada at risk

Losing the forgivable portion of the CEBA loan would put nearly 250,000 small businesses in  jeopardy, says the CFIB.

Businesses say Ottawa’s CEBA extension misses point

Stacked tables inside a closed restaurant.

Restaurants are on edge and 50% may not survive

Kelly warns that one of every five Canadian restaurants faces the risk of closure.

On a positive note, DBRS Morningstar is cautiously optimistic that those that weather the immediate challenges will see revenue growth in 2024.

“This is based on our assumption that menu prices are likely to see at least some further, albeit moderating, growth, while also considering the full-year effects of last year’s increases,” its outlook said.

• Email: [email protected]

Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.

Article content

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Financial Post – https://financialpost.com/news/retail-marketing/hardship-ahead-canada-restaurant-sector

Tags: AheadbusinessHardship
Previous Post

How to Create a Business Email

Next Post

What to know about overdraft fees as the White House cracks down on them

City Parks Initiative Launches Ecological Tracker for Bond Projects – Citizen Portal AI

Revolutionary Ecological Tracker Unveiled to Transform Monitoring of City Parks Bond Projects

September 27, 2025
Award-winning science writer leads student discussions at Eckerd – theonlinecurrent.com

Award-Winning Science Writer Inspires Student Discussions at Eckerd College

September 27, 2025
Human Head Transplants: Where the Science Stands, and Why the Ethics Are So Complicated – Discover Magazine

Human Head Transplants: The Science Behind the Procedure and the Complex Ethical Debate

September 27, 2025
New lifestyle brand TENŌRE set to open flagship store in Waikīkī – KITV

New lifestyle brand TENŌRE set to open flagship store in Waikīkī – KITV

September 27, 2025
Aurora police hope to add facial recognition technology to crime-fighting tools – CBS News

Aurora Police Aim to Boost Crime-Fighting with New Facial Recognition Technology

September 27, 2025
Hawaii women’s volleyball team prepares to get creative for Big West play – Spectrum News NY1

Hawaii women’s volleyball team prepares to get creative for Big West play – Spectrum News NY1

September 27, 2025
Hypertension – World Health Organization (WHO)

Hypertension – World Health Organization (WHO)

September 26, 2025
In Kansas City, Secretary Rollins Speaks on State of Farm Economy, Announces Suite of Actions to Support American Farmers – USDA (.gov)

Secretary Rollins Launches Bold New Initiatives to Boost Kansas City’s Farm Economy and Empower American Farmers

September 26, 2025
Cardi B Adds More Dates to Little Miss Drama Tour: ‘Y’all Making Me Work’ – Yahoo

Cardi B Extends Little Miss Drama Tour: “Y’all Making Me Work

September 26, 2025
Vandalia Health Mon Stonewall Jackson Memorial Hospital to host blood drive Sept. 29 – Mon Health

Vandalia Health Mon Stonewall Jackson Memorial Hospital to Host Life-Saving Blood Drive on September 29

September 26, 2025

Categories

Archives

September 2025
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930  
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (839)
  • Economy (859)
  • Entertainment (21,734)
  • General (17,265)
  • Health (9,902)
  • Lifestyle (872)
  • News (22,149)
  • People (861)
  • Politics (869)
  • Science (16,069)
  • Sports (21,359)
  • Technology (15,842)
  • World (842)

Recent News

City Parks Initiative Launches Ecological Tracker for Bond Projects – Citizen Portal AI

Revolutionary Ecological Tracker Unveiled to Transform Monitoring of City Parks Bond Projects

September 27, 2025
Award-winning science writer leads student discussions at Eckerd – theonlinecurrent.com

Award-Winning Science Writer Inspires Student Discussions at Eckerd College

September 27, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version