(Aug. 19, 2008) Despite an economic slowdown, the bankruptcy rate for foodservice businesses stood at 0.9% in the first half of 2008, virtually unchanged from 0.8% during the same period in 2007.

According to Statistics Canada, the bankruptcy rate held steady or fell in most provinces, but edged up from 1.3% to 1.7% in Quebec, from 0.3% to 0.6% in New Brunswick, and from 0.8% to 0.9% in Ontario.

Quebec recorded 173 foodservice bankruptcies in the first six months of 2008, compared to 134 a year earlier.  The majority were full-service restaurants.

Over the past decade, the bankruptcy rate for foodservice operators in Canada has fluctuated between 1.5% and 0.8%.