Rising Costs Put Squeeze on Canadian Restaurants, With 1 in 3 Operating at a Loss
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One-third of Canadian restaurants are operating at a loss due to rising costs of ingredients, insurance, and wages.
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Restaurant menu prices are rising slower than costs, squeezing profit margins.
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The number of independent restaurants has dropped since 2019, while chains have grown slightly.
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Insolvency filings in the food services sector are high, with owners taking on more debt.
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Total foodservice sales are rebounding but owners remain cautious about the future.