Longtime Vancouver staple Federico’s Supper Club has announced its closure after more than two decades of business.
The restaurant’s owner, Federico Fuoco, said that in addition to a rent increase, thousands in monthly taxes being paid, and wage increase requests, the COVID-19 pandemic was “the nail in the coffin” for the small business.
The 1728 Commercial Drive restaurant released a statement today saying government help for small establishments like Federico’s isn’t coming fast enough.
“Now is the time for them to get real help. Not deferrals or loans, but real financial help. This is the only way landlords will be able to work with tenants in finding real solutions instead of just letting tenants walk away for good,” read the statement.
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In the release, Executive Director of the Commercial Drive Business Society Nick Pogor said that in order to help small businesses with rent, banks need to do their part.
“It’s important to remember that these small businesses make up one-third of Canada’s GDP and pay a huge amount of taxes — it is time for Canada to get behind these businesses when they need it most,” said Pogor.
Pog0r is asking that folks sign a petition at SaveSmallBusiness.ca, the petition asks for the government to “step in sooner than later with real measures to help businesses survive the COVID-19 pandemic.”
Another Commercial Drive restaurant, Cabrito Tapas, announced its permanent closure earlier this week as well.