Downtown records net zero business loss

Downtown Winnipeg reported an equal number of business openings and closures in the first quarter, marking the first time in at least five years that the Downtown Winnipeg BIZ did not record a second quarter net loss. Three businesses opened and three closed during this period, according to a recent BIZ report. This represents positive momentum after several years of net losses, the BIZ stated.

Securian Canada, The Grumpy Chicken, and Haydar Pasha Pizza were among the businesses that opened during this time. Despite the balanced number of openings and closures, the downtown office vacancy rate remained slightly below the national average at 17.5 per cent, compared to 17.8 per cent nationwide. However, the BIZ noted a 23 per cent drop in visitation compared to the previous year, attributing this decline to the absence of Winnipeg Jets playoff games and related events.