With new COVID-19 restrictions taking effect this week, the B.C. government has committed to more support for ailing businesses.
Starting Wednesday at midnight, the province is shuttering all fitness facilities, bars and nightclubs, while restaurants and pubs can operate with a maximum of six people per table.
Seating capacity at venues, including movie theatres and concert halls, will be reduced by 50 per cent, and organized indoor events such as weddings and funeral receptions aren’t allowed.
“Our government continues to investigate supports for those who are or may be impacted by these new restrictions,” said Public Safety Minister Mike Farnworth on Thursday.
“There will be more information on the kind of supports available in the coming days and the weeks ahead.”
Last week, health officials released their latest modelling data, which suggested a worst-case scenario of up to 2,000 cases of COVID-19 per day by Dec. 29, mostly because of the highly transmissible Omicron variant.
The province’s COVID-19 working group met Tuesday morning to discuss possible supports, but Farnworth provided no details that afternoon.
On Monday, the government extended its cap on the fees that food delivery companies, like Skip the Dishes and Uber Eats. can charge to restaurants. The 15-per-cent limit was set to expire on Dec. 31.
That extension was welcomed as a “start” by the Canadian Federation of Independent Business, but on Tuesday, the organization issued another urgent plea for support.
“These new restrictions and closures are going to hit small businesses hard when they are in survival mode and relying on a strong finish to the holiday season,” it said in a statement.
“… Now is definitely not the time to impose additional costs on small businesses.”
5:29 COVID-19: Omicron is rapidly replacing the Delta variant as the dominant strain in B.C.
COVID-19: Omicron is rapidly replacing the Delta variant as the dominant strain in B.C.
The CFIB called on the province to stop any further cost increases in 2022, and to fully fund the five days of paid sick leave policy that takes effect on Jan. 1. Right now, that expense must be paid by the employer.
According to the federation, 63 per cent of small businesses in B.C. have not yet returned to normal sales, and more than one third are losing money every day they’re open.
Ian Tostenson, president and CEO of the BC Restaurant and Foodservices Association, said “it could have been a lot worse.”
The industry is “relieved” restaurants and pubs can stay open, he explained, adding that measures like masks and physical distancing have been in place for months.
“Certainly, six people at a table may keep some people at home … but those are all things that are costs of business,” Tostenson told Global News.
He said the food service industry needs provincial and federal assistance, but did not elaborate on what kind.
1:04 B.C. extends cap of food delivery fees for another year
B.C. extends cap of food delivery fees for another year
Dave Kershaw, owner of the Cabana Lounge nightclub in downtown Vancouver, said he hopes financial support comes soon. He’s “disappointed but not surprised” by the new marching orders.
Closing on Thursday, he said he’ll have to refund about $8,000 worth of prepaid deposits to guests, while more than $28,000 in rent is due on Jan. 1.
“We’d had events planned this whole week including on Boxing Day, and of course New Year’s Eve, which was pretty much already sold out,” said Kershaw. “This’ll probably cost us a couple hundred thousand dollars in sales.”
The nightclub has COVID-safe event hosting “down to a science,” he added, and he doesn’t understand why his venue must close while much larger spaces, such as Rogers Arena, can stay open at 50-per-cent capacity.
He said he hopes the province compensates businesses whose closure is mandated, particularly those for whom New Year’s Eve is the “biggest night of the year.”
3:36 COVID-19: Dr. Bonnie Henry outlines indoor social gatherings over the holiday season
COVID-19: Dr. Bonnie Henry outlines indoor social gatherings over the holiday season
Seven & i Holdings Co. Ltd. said the proposal by the Canadian convenience store operator “grossly undervalues” the company.
In a letter to Couche-Tard, Seven & i called its offer of US$14.86 per share in cash “opportunistically timed” and said the proposal was not in the best interest of its shareholders and other stakeholders.
“We are open to engaging in sincere discussions should you put forth a proposal that fully recognizes our stand-alone intrinsic value and addresses our concerns regarding certainty of closing in the current regulatory environment,” wrote Stephen Dacus, chair of the special committee formed to review the offer.
“However, we do not believe, for several critical reasons, that the proposal you have put forward provides a basis for us to engage in substantive discussions regarding a potential transaction.”
The Japanese company said the Couche-Tard bid did not adequately acknowledge the multiple and significant challenges such a transaction would face from U.S. competition regulators.
In addition to global convenience store chain 7-Eleven, Seven & i owns supermarkets, food producers, household goods retailers and financial services companies.
On Thursday, before Seven & i published its rejection, Couche-Tard said it was confident in its ability to finance and complete the proposed deal.
Analysts have cast doubt on whether the two companies can reach a deal because they believe satisfying Japanese regulators will be onerous and could force Couche-Tard to let go of some of its assets.
Couche-Tard has operations across 31 countries and more than 16,800 stores. If it manages to wrangle Seven & i, that deal would add 85,800 stores to its empire.
This report by The Canadian Press was first published Sept. 6, 2024.
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