BNN Bloomberg Talk: Takeout and Patio Reopenings Not a Sustainable Model for Restaurants

Our very own Larry Isaacs, President of The Firkin Group of Pubs, joins BNN Bloomberg, Canada’s Business News Network reporting on finance and the markets, to talk about the concerns the restaurant sector has currently. He says that takeout and the opening of patios is not a sustainable model longer term, and that many restaurants won’t last.

Watch the full interview:

COVID-19 IMPACT: Restaurants Fighting for Survival

It is estimated already that 30% of restaurants have closed their doors permanently.

“We are very concerned. I think the restaurant industry has been decimated by the closures since March (2020) and the opening of takeout and just patios is not a sustainable model for the industry to survive over the long-term …”

– Larry Isaacs
President, The Firkin Group of Pubs

Restaurant Sector Challenges

Our business is a social industry and we need … people. … without all of the crowds coming in, … the ambiance of our business … doesn’t create the right motivation for people to come in and doesn’t give us enough sales to justify without having any rent relief or payroll relief going forward.”

– Larry Isaacs
President, The Firkin Group of Pubs

We need the federal government to offer a stronger solution.

“Everybody … is critical to the success of our industry. We need the government, the financial institutions, the landlords, the manufacturers, the distributors, (and) the farmers all to work together with us in order to ensure we all survive. … The restaurant industry holds up 1.2 million employees. 800,000 of them are off work right now and we need them back …”

– Larry Isaacs
President, The Firkin Group of Pubs

The Canadian Chamber of Commerce has launched the National Food Services Working Group

…to address the economic challenges of the food services industry.

With approximately 98,000 foodservice establishments in Canada, the industry is integral to economy vibrancy in communities.

The Firkin Group of Pubs have joined as members of the Working Group to bolster economic recovery.

View the full article here.

Excerpts, featured image, video and full article are Copyright © BNN Bloomberg / 2020 Bell Media. All Rights Reserved.

Help Spread The Word

Share on social, follow us and tag your friends.
#FirkinPubs #CommunityOverCovid #SaveHospitalityCA @FirkinPubs Instagram | Facebook