TORONTO, July 31, 2012 /CNW/ - The Canadian Restaurant and Foodservices
Association (CRFA) commends the federal government for responding to
concerns about how to "turn off the tap" when it comes to the penny.
CRFA called for a longer lead time and a clear transition date, which
the government put in place yesterday with an announcement that pennies
will no longer be produced as of Feb. 4, 2013.
"With 18 million customer transactions in the restaurant industry every
day, the decision to remove the penny has a significant impact on our
members," says CRFA President and CEO Garth Whyte. "We're very pleased
the government responded to our concerns. We're also calling for a
robust consumer education campaign from the government so that our
customers understand fully what is being planned and how the rounding
process will work."
A CRFA survey of restaurant owners found that 58% are concerned that
eliminating the penny and rounding transactions will have a negative
impact on their business. A majority of respondents expect to incur
extra costs for staff training (56%); reprogramming point-of-sale
equipment (54%); and customer education (50%).
CRFA is one of Canada's largest business associations, with more than
30,000 members representing restaurants, bars, caterers, institutions
and other foodservice providers. Canada's restaurant industry employs
more than one million people at more than 80,000 locations across the
SOURCE: Canadian Restaurant and Foodservices Association
For further information:
Prasanthi Vasanthakumar, Communications Specialist, 416-649-4254 or email@example.com