The pandemic was the coup de grace for a bakery in the avenue Cartier, which has declared bankruptcy recently. Debts, the branch of Moulins La Fayette located at the height of the Crémazie street will not reopen once the crisis has passed.
“It is a conjuncture of events, and, of course, the COVID-19 is coming seal the deal, if I may say. Then, we decided, unfortunately, to bankruptcy, ” confirmed to the Newspaper, one of the owners, Stephan Matte.
This decision does not relate to other points of sale of the chain, such as those of the rue Grande-Allée and Baie-Saint-Paul, which belong to the same business people, and who are therefore pursuing their operations.
Challenges of profitability
Nearly two years after its opening, the trade of the avenue Cartier for its part, had accumulated liabilities of close to 350 000 $.
The bakery was built over the past two years a loyal and honourable, that Mr. Matt wishes to thank, but that didn’t stop him from knowing of the challenges of profitability from the beginning that the pandemic has only exacerbated.
The traffic has collapsed since mid-march, and the government subsidies, which take mostly the form of loans, are not sufficient, according to Stéphan Matte.
“[The loan], he will have to pay it back one day […] then at a certain point you say to yourself : it will never come to the end, because the margins are not very large in this area, ” he said.
The drop in tourism and the rehabilitation works that will affect the avenue Cartier, this summer has also prompted the owners to put an end to this adventure.