New rent subsidy is a key ingredient for restaurant survival – GlobeNewswire

Restaurant News
TORONTO, Oct. 09, 2020 (GLOBE NEWSWIRE) — Restaurants Canada commends the federal government for committing to provide rent assistance directly to businesses, among other measures announced today that respond to key recommendations to support the foodservice sector.“Providing rent assistance directly to businesses is a key ingredient for restaurant survival,” said Restaurants Canada President and CEO Todd Barclay. “We appreciate the federal government acting on this critical recommendation, among other new support measures announced today, to help our sector pull through the ongoing pandemic.” A thriving foodservice sector is critical to communities across Canada “Restaurants are a critical load-bearing pillar of communities across the country,” said David Lefebvre, Restaurants Canada Vice President, Federal and Quebec. “We appreciate the federal government’s continued recognition of the unique impact that COVID-19 has had on our sector. We especially appreciate the efforts of Minister Ng in particular, for continuing to champion the needs of hardworking restaurant operators, so they can continue to contribute to jobs, economic growth and all the other small and medium sized businesses who rely on a thriving foodservice sector for their survival.” Without continued and additional support, Restaurants Canada estimates that 40 per cent of independent restaurants might not survive beyond March 2021, on top of the roughly 10 per cent of establishments that have already permanently closed over the first seven months of the pandemic. About Restaurants Canada Restaurants Canada is a national, not-for-profit association advancing the potential of Canada’s diverse and dynamic foodservice industry through member programs, research, advocacy, resources and events. Before the start of the COVID-19 pandemic, Canada’s foodservice sector was a $93 billion industry, directly employing 1.2 million people, providing Canada’s number one source of first jobs and serving 22 million customers across the country every day. The industry has since lost hundreds of thousands jobs and could lose as much as $44.8 billion in sales in 2020 due to the impacts of COVID-19. David Lefebvre
Restaurants Canada
613 325-3298
[email protected]

Marlee Wasser
Restaurants Canada
416-649-4254
[email protected]

Source: Thanks https://www.globenewswire.com/news-release/2020/10/09/2106457/0/en/New-rent-subsidy-is-a-key-ingredient-for-restaurant-survival.html