New report finds 56 per cent of Ottawa restaurants in 'dire-straights' from rising costs
CTV
A new report from Restaurants Canada shows although customer spending is up ten per cent from last year, 50 per cent of restaurants are in dire straits and at risk of going under.
Restaurants across the country and in Ottawa are struggling to adjust to a post-pandemic world.
A new report from Restaurants Canada shows although customer spending is up ten per cent from last year, 50 per cent of restaurants are in dire straits and at risk of going under.
In Ottawa, that number is closer to 56 per cent.
“The reality is that yes, numbers are up in terms of revenue to the industry, but if you adjust that with inflation we are down to pre-pandemic levels,” said Richard Alexander, executive vice president of government relations and public affairs with Restaurants Canada.
Etienne Dupuy, the manager of Tropikal on Clarence Street, says wage increases combined with higher inflation and less people eating out is not a recipe for success.
“We’re really trying to serve as much as we can and cutting expenses as much as we can, but really there is only so much that can be done,” said Dupuy.
Data so far this year shows more than double the number of bankruptcies compared to last year.
