09:53:52 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Restaurant Brands International Inc
Symbol QSR
Shares Issued 315,705,317
Close 2024-03-28 C$ 107.57
Market Cap C$ 33,960,420,950
Recent Sedar Documents

Globe says RBI sued by Tims franchisees in Quebec

2024-04-01 08:13 ET - In the News

The Globe and Mail reports in its Saturday edition that nearly a dozen Quebec franchisees are suing Tim Hortons, claiming their profits have declined by millions of dollars. The Globe's Susan Krashinsky writes that owners say the gap has narrowed between their own costs for supplies and menu prices, both of which are controlled by the company. An application to initiate proceedings was filed in Quebec Superior Court in Montreal on Thursday on behalf of 11 owners who operate 44 restaurants in the province and have seen their profitability "decrease significantly" since 2021, according to the document. It is not the first time Tim Hortons has faced legal action from franchisees. In 2019, the company settled two class-action lawsuits filed on behalf of Canadian franchisees, who at the time had complained that actions taken by parent company Restaurant Brands International had hurt the reputation of the brand and their bottom line. The profitability declines cited in the court filing echo those expressed by a dissident group of Tim Hortons owners, called the Alliance of Canadian Franchisees, which began speaking publicly about shrinking profitability last year. Tim Hortons responded, "We will defend these baseless claims."

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