New federal assistance will help restaurants survive COVID-19: Restaurants Canada

RESTAURANTS Canada on Friday commended the federal government for committing to help businesses survive the ongoing COVID-19 pandemic with more than $600 million in new funding.

“Many of the measures announced today respond to our recommendations to help Canada’s vital foodservice sector pull through these extraordinarily challenging times,” said Restaurants Canada President and CEO Todd Barclay. “We appreciate the federal government’s continued recognition of the unique impacts that COVID-19 have had on restaurants and how integral they are to the economic recovery of communities across the country.”

“The vast majority of our members have been able to remain operational and continue contributing to their communities, largely thanks to measures the federal government has introduced since the start of the crisis,” said David Lefebvre, Restaurants Canada Vice President, Federal and Quebec. “We look forward to learning more details about the commitments unveiled today and continue building on the government’s efforts to address the ongoing needs of our industry.”

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 six months of the pandemic.

Restaurants Canada continues to recommend support for restaurants in the following key areas:

  • Assistance with labour costs, rising debt and cash flow
  • Red tape reduction for small and medium sized businesses
  • Targeted foodservice sector support