Downtown suffers net loss of 10 companies in 2024
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Hey there, time traveller!
This article was published 05/03/2025 (387 days ago), so information in it may no longer be current.
The annual number of downtown Winnipeg business closures once again exceeded openings, but the gap is shrinking.
Thirty-three companies shuttered in the provincial capital’s downtown last year; 23 organizations opened. The net loss of 10 is the lowest since at least 2021, a Downtown Winnipeg Business Improvement Zone report revealed. In 2023, the city’s core clocked a net loss of 17 businesses. The net loss surpassed 20 — hitting 23 and 27 — in 2022 and 2021, respectively.
Meantime, downtown visitation continues trending upwards. Fifty-eight million people trekked through downtown Winnipeg last year, up from 51 million the year prior, as per the BIZ snapshot released Wednesday.
Downtown Winnipeg BIZ gift card sales doubled year-over-year, eliciting a total 2024 purchase of $189,935.
Ground-floor vacancy continues to hover around 30 per cent. Office vacancy in downtown Winnipeg — 18.7 per cent — matches the national average.
— Free Press staff