Annabelle’s Kitchen in Marda Loop has actually performed quite well, as loyal customers rallied around it throughout the past three years. This location, which opened six months before the pandemic, largely kept the other two restaurants from going under and will have no trouble paying back its $60,000 loan.The two Stephen Avenue establishments — which includes a full service restaurant and a small 400-square-foot lounge called Bar Annabelle — have been hammered.
Ernie Tsu, president of the Alberta Hospitality Association, said an extension would be welcome news for the sector. He said while some restaurants are set to pay it back on the current due date, many are not. According to Restaurants Canada, an advocacy group for the food-service sector, 83 per cent of table service restaurants and 56 per cent of quick-service restaurants received a loan through the program, though 20 per cent will not be able to repay the loan in part or at all by the deadline.Article content
Restaurants Canada said they are not looking for a straight extension, but rather a trade-off on the forgivable portion with a reduction of five per cent every six months, creating an incentive to pay back the loans as quickly as possible.64 per cent of its members have had to cut back operating hours due to the labour shortage — pegging the current job openings at 18,000 in Alberta.
Restaurants crippled by government mandates and lockdowns**
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