G20 a bust for toronto businesses Toronto with shoppers, diners and tourists staying away, the g20 took a big bite out of the bottom line of toronto's businesses, according to a spending report from moneris solutions. Spending at stores, restaurants and almost every other business dropped dramatically during the g20 weekend that left Ralph lauren uomo a trail of broken windows, smashed atms, graffiti and burning police cars along queen and yonge sts. The debit and credit card processor found the dollar volume of retails sales and total number of retails transactions dropped the summit weekend compared with the friday, saturday and sunday from the previous week in three areas that were examined:Inside the security perimeter, outside the perimeter in the downtown core and across the city of toronto. Fred luk, owner of the red tomato and fred's not here on king st.W. , told the Sun his business dropped 80% during theWeek of the G20. "It was a ghost town,"Luk said, adding he's considering applying for compensation from the federal government. "Pretty much everyone tried to avoid the downtown core. " Ahead of the summit, luk had taken part in a $35 dinner and theatre deal with the second city theatre to try to drum up business during the g20.In the end, he only sold around 20 of those promotional dinners. By saturday, when rioters were rampaging, the ttc shutdown service to the downtown and riot police were forming lines around the city, luk said things got even worse. "No one in their right mind would come down here,"He said, adding the violence even kept people staying in hotels located inside the summit security zone from venturing out at night. While he's not sure what polo ralph lauren shorts the long term benefits will be of hosting the g20 summit, luk said the government"Miscalculated on small businesses being hurt. " "We need our cash flow and need our sales,"He said. Entertainment district bia executive director janice solomon said the loss of business to the entire area was dramatic and clearly evident. She said it was clear business was drying up through the week of the g20 but by sunday, most businesses had their doors closed. "The loss of business in the entertainment district is pretty serious,"She said. "(Before the cravatta ralph lauren g20)I was the cheerleader about the fact we were open for business. " Solomon said by saturday afternoon, it was pretty clear things weren't what she thought they would be. "I don't think i've ever seen anything like this,"She said. "What makes this all the more remarkable is hotels were busy and the convention centre was obviously busy. " The bia is now trying to make sure its members understand the compensation process and get the money they deserve. "We're going to get through this as best we can,"Solomon said. Those businesses inside the security perimeter not surprisingly got hit hardest seeing a 28.8% drop in the dollar volume of their retail sales and a 40.8% drop in the total number of retail transactions. Restaurants were hardest hit with a 66.6% drop in the dollar volume of their sales and a 56% dip in the total number of retail transactions. Merchants in the downtown core around the security perimeter also saw business dry up with a 10.8% drop in dollar volume of sales and a 16.4% drop in the total number of retail transactions from the weekend a week earlier.

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