White Spot not spared from economic ravages of COVID-19
Posted May 13, 2020 12:32 pm.
Last Updated May 13, 2020 6:59 pm.
VANCOUVER (NEWS 1130) — Despite revenue from pick-up and delivery, restaurants have been among the businesses hardest hit by COVID-19, and the iconic White Spot restaurant chain is not immune.
Speaking to The Starting Lineup on Sportsnet 650 Wednesday morning, White Spot co-owner Ron Toigo says profit margins across the industry are typically thin — around four to five per cent. And that’s assuming they have 80 to 90 per cent capacity.
When dine-in options are allowed again, most restaurants will likely have to cap capacity at 50 percent, but Toigo says this will add new challenges to develop this new mindset.
“Like all industries that have been challenged like this, everybody’s focused on, you’re going to lose money for the next number of months. And hopefully by the fourth quarter, you can start to turn it around and get back to where you were, but it’s challenging times for everybody in all walks of life.”
Toigo, who also owns the Vancouver Giants, says the fate of the team is also in the air. With no fans in the stands, he says it won’t be long before losses there hit seven figures.
He says the Canadian Hockey League is considering delaying the upcoming season until after the new year.
-With files from Sportsnet 650
