Permanent Closures in Restaurant Industry – Canada
Oct – 2020. More than seven months into the coronavirus pandemic, restaurants across the country continue to close. More than 7,500 have closed since March due to the financial downturn caused by the COVID-19 pandemic. Among them are some of our favorites restaurants.
In all likelihood, though, this is only the beginning of permanent closures, as loans and rent payments continue to mount. Many restaurants could permanently close by the end of the year if they don’t receive additional government aid. CHD Expert is tracking the data on these foodservice restaurant closures, and we fear that the number will only continue to grow.
What do we saw in October:
- 202 permanent closures
- 227 temporarily closures
- Top 5 cities include: Toronto – Calgary – Vancouver – Waterloo – Montreal
- Top state = Ontorio
- Traditional restaurants/ casual dining are closing the most
Get the data behind the permanent closures in the foodservice restaurant industry.