restaurant closures

MTY Food Group is reducing corporate-owned restaurants and reviewing its brand portfolio as Canadian sales stabilize. Mall-based restaurants, breakfast concepts and sushi brands are among the strongest performers, while the company targets renewed growth through franchising.

Canada may avoid the 4,000 restaurant losses once forecast for 2026, but Sylvain Charlebois says up to 2,500 could still disappear as industry pressures intensify.

Basil Box will close all Canadian locations by May 14, ending a Toronto fast-casual brand as rising costs and shifting demand pressure the sector.

Regions in Canada had drastically different numbers that can be attributed in part to lockdowns and overall consumer confidence.