A Toronto restaurant has closed after four years due to mounting financial pressures and the rising cost of living.
Nile River Restaurant, formerly located at 598 College St., was an Egyptian fusion spot serving up authentic dishes and street foods, including hawawshi (crispy pita stuffed with meat), shish tawook (grilled chicken skewers), baba ganoush (smoky eggplant dip with tahini), pita sandwiches, and koshari (Egypt’s national dish).
In an announcement posted to Instagram on Tuesday, the business revealed that it had shut its doors and thanked its customers for their loyalty over the years.
“So sad! You guys made the best koshari and fatoush salad in the city,” one person wrote under the announcement.
“I will miss this place. Ate here just a week ago. Good luck on future adventures! Thanks for the delicious food,” another customer said.
One of Nile River’s owners, Ahmed, told blogTO that the business was forced to close its doors this month after years of financial pressures. The current state of the economy, Ahmed added, has also made it difficult to operate a restaurant while also trying to keep costs low for its customers.
“We did everything we could do, but the economy now, the cost of living, is a big problem,” he explained to blogTO.
“We even tried to make $7 sandwiches to support students and the community to save money, but everyone is trying to save money for rent and their mortgage. In 2024, all prices are high. Any component in living in Toronto, from gas to food is high.”
The business first opened its doors during the pandemic against all odds, which Ahmed said was made even more difficult by uncertainty around government supports for small businesses and restaurants. Ahmed said the eligibility criteria for many government programs are “almost impossible” to meet.
“I’ve talked to lots of business owners, and the profit margin for this industry has decreased. Your cost is too high but at the same time, you need to afford cheap items for people to afford,” he said.
“It’s not safe to stay in a market like this. But we learned something at the end of the day. Winning is not always money, if you gain something, it doesn’t have to be money.”
Although the restaurant’s time in Little Italy has officially come to an end, Ahmed said he is hopeful that the business can return someday 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 be maintained in the meantime, as Ahmed looks to plan out the future of the business.
“I would like to thank all the customers who supported us during COVID, all the suppliers, and all the workers,” he said. “We left the market in a good position with positive reviews, and we will come back as expected.”
