RE:Earnings Question
AOGEE wrote: Does anybody know if Fire applied and received Government of Canada's COVID-19 related emergency response programs, such as the Canada Emergency Wage Subsidy (CEWS)?
If no, than thats the end of it but if yes, did they put that in the last earnings release? My understanding is that is has to be logged as operational cash flows in the financials.
Just wondering but I don' t think they would have qualified for the program but what do i know.
Nice to go through posts that are not all bickering and name calling.
Cheers
There are criteria that need to be met in order for a business to qualify for these government subsidies. Did Supreme let these employees go during the lockdown? How much revenue was lost as a result?
My SO received very generous wage subsidies for his staff, but the nature of his business is totally different from that of Supreme. He's in healthcare and owns a sizeable practice. His office was shut down and staff let go for a few months. He only saw patients for emergencies. The business's revenue plummeted to about 30% of what it was pre-Covid. When staff went back to work, the government covered their wages for several months. Government also offered forgivable loans as well as rent subsidies.
I don't know if Supreme could qualify for this subsidy. Should we send them an email to inquire?