Jun 10, 2021
The coming revenue-to-debt tipping point for businesses: Canadian Chamber raises alarm on potential for wave of closures after COVID is beaten
“Businesses in customer facing sectors that have made it to today, so close to reopening and herd immunity, face two grim realities: lower revenues for up to two years and an inability to take on more debt. We are very worried about a wave of business closures through 2022 as they face a tipping point of continued revenue loss and maximum indebtedness. The situation is untenable with the current one-size-fits-all approach to government support programs,” said Perrin Beatty, President and CEO, Canadian Chamber of Commerce.