A Toronto restaurant has closed after four years due to increasing financial pressures and rising costs of living.
Nile River Restaurant, formerly located at 598 College St., was an Egyptian fusion eatery that served authentic dishes and street food, including Hawawshi (crispy meat-filled pita), Shish Tawook (grilled chicken skewers), and Baba Ganoush (smokier Eggplant dip with tahini), pita sandwiches and koshari (Egypt's national dish).
In an announcement posted on Instagram on Tuesday, the company announced that it had closed its doors and thanked its customers for their years of loyalty.
“So sad! You made the best koshari and fatoush salad in town,” one person wrote under the announcement.
“I will miss this place. I just ate here a week ago. Good luck on future adventures! Thanks for the delicious food,” said another customer.
One of Nile River's owners, Ahmed, told blogTO that the company was forced to close its doors this month after years of financial pressure. The current economic climate, Ahmed added, also makes it difficult to operate a restaurant while trying to keep costs down for his customers.
“We did everything we could do, but the economy and the cost of living is now a big problem,” he told blogTO.
“We even tried making $7 sandwiches to help students and the community save money, but everyone is trying to save money for rent and their mortgage. In 2024, all prices are high. All components of life in Toronto, from gas to food, is high.”
The company opened its doors for the first time during the pandemic against all odds, which Ahmed said was made even more difficult by uncertainty about government support for small businesses and restaurants. Ahmed said the eligibility criteria for many government programs are “almost impossible” to meet.
“I have spoken to many business owners and have noticed that the profit margin in this industry has decreased. Your cost is too high but at the same time you have to afford cheap items that people can afford,” he said.
“It is not safe to stay in such a market. But at the end of the day we learned something. Winning doesn’t always mean money, if you win something it doesn’t necessarily have to be money.”
Although the restaurant's time in Little Italy has officially come to an end, Ahmed said he is hopeful the business can one day return in another area like Mississauga, although he will base his decision on economic forecasts for 2025 as well as the results of the federal election.
The restaurant's social media pages will remain in place in the meantime, as Ahmed looks to plan the future of the business.
“I would like to thank all the customers who have supported us during COVID, all the suppliers and all the workers,” he said. “We left the market well positioned and with positive reviews, and we will come back as expected.”