8289 replies to this topic

[aastra]

 

SportChek has a limit to how many shoes can be in the mall...

 

Good to know. I often bring a bag of shoes with me so maybe I should leave them outside before I come inside.

[Darren14]

The source has also officially closed at Mayfair

[Mike K.]

Smiths has closed, as has the HSBC, both on the same block of Courtney Street.

[Nparker]

I am sure Mayor Alto will just say it's more growing pains.

[Belleprincess]

This is only the beginning. Many more closures will come… people just don’t have the extra cash to be spending right now.

[Mike K.]

Are you noticing it to that degree, Belle? Is spending down, but people walking the streets are up, or are there less people, but more spending per person, or is there less spending and less people?

9/10 we hear about downtown business health from people who aren’t running the businesses, just observing and passing judgement.

I still see a lot of people at take-out places and at restaurants, but then I think to myself, maybe when I’m there it’s peak time of the week. The rest of the time business isn’t so hot.

[Belleprincess]

Are you noticing it to that degree, Belle? Is spending down, but people walking the streets are up, or are there less people, but more spending per person, or is there less spending and less people?

9/10 we hear about downtown business health from people who aren’t running the businesses, just observing and passing judgement.

I still see a lot of people at take-out places and at restaurants, but then I think to myself, maybe when I’m there it’s peak time of the week. The rest of the time business isn’t so hot.

It’s up and down to be honest. Sometimes we have a lot of foot traffic but people are just not spending. Generally speaking, business started going down significantly last year. Instead of buying several items, they’ll buy one or none. It is to be expected. But with the government loans being due, it’s not survivable for many.

[Mike K.]

Yes, the loans are going to be crippling. I’m not sure what the government expected as an outcome. If you needed that loan to survive, how can you dig out of a hole that large? I hear, and it’s anecdotal, that those paying off the loan never fully needed the money, but it was given, so it was taken.

[Matt R.]

Not often the free money tree comes knocking.

[Belleprincess]

2022 was a great business year but that money was used to pay off the stock we couldn’t sell in during the closures and slower times (we buy it a year in advance so we couldn’t cancel.) There is a lot of playing “catch up.”

The loan was blessing at the time but I think they could have devised a better way to pay it back (quarterly instalments for example.) The wage subsidy was the most helpful benefit we received.

I do expect things to get better relatively soon, maybe I’m dreaming but I’m very hopeful.