One in five restaurants in Canada at risk as CEBA deadline looms, say advocates

By News on the Net -- Finalcial Post —— Bio and Archives January 9, 2024

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The food service industry could be decimated by a wave of closures if the federal government does not extend the Jan. 18 deadline for the repayment of loans under the Canada Emergency Business Account program, two industry groups are warning.

Restaurants Canada, a not-for-profit association advocating for the food service industry, said Jan. 8 that the looming deadline could prove disastrous for the sector, which has been operating under the strain of debts incurred during the pandemic as well as other economic factors beyond its control. ---More...