Boston Pizza Royalties Income Fund - Chairman and owner, Jim Treliving
Chairman and owner, Jim Treliving
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  • As COVID-19 spreads, Boston Pizza International (TSX:BPI-UN) has closed all of its dining outlets and sports bars across Canada
  • The closures took effect yesterday, and operations will remain suspended until further notice
  • The decision comes after Prime Minister Trudeau called for all Canadians to “stay home and order take-out”
  • Boston Pizza’s kitchens will remain open to facilitate delivery orders
  • Boston Pizza International (BPI-UN) is down 20.16 per cent to C$5.86 per share, with a market cap of $127.68 million

As COVID-19 spreads, Boston Pizza International (TSX:BPI-UN) has closed all of its dining outlets and sports bars across Canada.

The company has more than 390 franchise restaurants, employing over 25,000 people nationally.

The decision to close down operations took effect yesterday, after Prime Minister Trudeau asked all Canadians to “stay home and order take-out.”

Boston Pizza’s kitchens, however, will remain open in order to facilitate take-out orders and home delivery.

Jim Treliving, Chairman and owner of Boston Pizza International, commented on the closures.

“The well-being of our guests and restaurant staff is our paramount concern. We continue to work diligently with our franchisees and vendors to follow the advice of government authorities.

“The most current advice we have is for restaurants to continue providing take-out and delivery ordering options where possible. These essential services can help Canadians through the difficult period ahead,” he said.

The announcement quickly pointed out that Boston Pizza has made a conscious effort to align policies with current governmental mandates.

Jordan Holm, President of Boston Pizza, said that the unusual times require significant adjustments.

“The changes that we are announcing today are being made to minimise the risk associated with COVID-19, while also continuing to provide Canadians with dine-at-home options that are aligned to the immediate needs of our guests and communities.

“When life returns to normal, we will look forward to welcoming guests back into our dining rooms and sports bars,” he added.

Boston Pizza International (BPI-UN) is currently down 20.16 per cent to C$5.86 per share at 3:08pm EST.

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