Restaurant Industry Dissatisfied with Limited Federal Aid as Majority Operate at Loss
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The federal government extended the CEBA loan repayment deadline by 1 year, but the restaurant industry says this isn't enough help for struggling businesses.
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51% of restaurants are operating at a loss or barely breaking even due to pandemic debt, labor shortages, and high inflation.
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Restaurants Canada asked the government to extend the interest-free CEBA loan period by 1 year, but this request wasn't granted.
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The deadline to qualify for CEBA loan forgiveness was only extended by 18 days, disappointing the restaurant industry.
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Restaurants Canada urges Canadians to support local restaurants as many are struggling to stay open.