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Restaurant Brands International Inc
Symbol QSR
Shares Issued 323,707,500
Close 2024-12-12 C$ 98.43
Market Cap C$ 31,862,529,225
Recent Sedar Documents

Post says RBI's Tim Hortons racks up losses at hospital

2024-12-12 07:21 ET - In the News

The National Post reports in its Thursday edition that two taxpayer-subsidized Tim Hortons are losing money at a rate of more than $1,000 per day. The Post's Tristin Hopper writes that both doughnut shops are operated by Windsor Regional Hospital and collectively lost $487,662 in the 2023-24 fiscal year, say the financial reports that watchdog Secondstreet obtained through an access to information request. That is the equivalent of $1,336 per day. All told, according to Secondstreet, the two money-losing Tim Hortons have represented a net drain on the hospital of more than $2-million since hospital administrators first got into the doughnut business around 2010. Secondstreet profiled 74 Canadian hospitals, and found that they were collectively losing between $5-million and $6-million per year in unprofitable cafeteria operations. Secondstreet calls the Windsor Tim Hortons outlets a particularly "baffling" example of hospital mismanagement; losing money is generally hard to do at a Tim Hortons. Windsor Regional Hospital could conceivably be home to two profitable Tim Hortons if they simply leased space to a private franchisee who ran the locations independently. The starting wage at the locations is $23.26 per hour.

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