MONTREAL — In response to the COVID-19 virus and its spread across Canada, MTY Food Group Inc. has stepped up to assist its franchisees.
The restaurant franchisor and operator has announced it will postpone the collection of royalties for a four-week period starting March 17.
The company has put other measures in place throughout its restaurants to keep staff and customers safe, including increased cleaning and the suspension of reusable cups.
“We’re satisfied with the measures our brands have put in place and will continue to monitor and adapt going forward, as needed. While many guests are shifting their daily routines, we’re cognizant of the overall impact the decreased traffic is having on our restaurants and that we will need to support our franchisees during this difficult period. The total amount of royalties that will be deferred during the four-week period is expected to be between $15 million and $18 million,” says Eric Lefebvre, CEO, MTY. “We’re hopeful that the governments, our landlords and other partners will do their part as well.”