The Beer Store loss grows to $51 million amid competition, COVID
Source Toronto Star
The red ink keeps flowing at The Beer Store.
The retailer, majority owned by Molson Coors and Labatt, had an operating loss of $50.7 million in 2020, as competition from grocery stores and restaurant bottle shops grew, and keg sales were crushed by COVID-19 restrictions.
That loss, which the retailer revealed in its recently-released annual financial statement, was up from a $46.5-million operating loss in 2019 and an $18.1-million loss in 2018.