Floata's Closure Response

Floata Seafood Restaurant’s Response to the City’s Statement

VANCOUVER, BC, 01 November 2025 - Floata Seafood Restaurant wishes to clarify and respond to the recent statement issued by the City regarding our lease and operations:

1. Proactive Renewal Efforts Ignored  As early as March—six months prior to the lease expiry—we initiated discussions with the City via email regarding lease renewal and submitted a formal proposal outlining our plans. Despite our repeated follow-ups, we experienced prolonged delays due to the responsible officer’s extended leave. When a meeting was finally arranged on August 26, we were told three times within one hour that Floata Restaurant had “0% chance” of renewal. This abrupt and dismissive approach left us with only 34 days before lease expiry, severely limiting our ability to respond.

2. Impact on Bookings and Staff  Floata Restaurant has long been a trusted venue for large-scale banquets and community gatherings. With many reservations already confirmed, the City’s handling of this matter has placed undue pressure on our team and created confusion for our valued customers. We find this treatment deeply regrettable and unfair.

3. October Rent and Security Deposit  The only outstanding rent relates to October. Our company proposed applying the remaining security deposit balance of CAD $19,427.70 toward this amount. Unfortunately, the City declined this reasonable request.

4. Pandemic Rent Repayment Completed  During the pandemic, Floata adhered strictly to the City’s repayment terms, issuing monthly cheques that included both regular rent and arrears—39 installments in total. The final payment was completed on September 10.

5. Unexpected Rent Increase Post-Pandemic  After fulfilling all pandemic-related obligations, we were surprised to receive notice of a rent increase retroactively applied to the pandemic period. While the federal government provided subsidies to support small businesses, the City chose not to offer rent relief—instead opting to raise costs. This decision contradicts the spirit of recovery and support.

6. A Legacy of Commitment  Floata Restaurant invested CAD $5 million to establish its Vancouver location 30 years ago. We are profoundly grateful for the unwavering support of our community and the dedication of our staff throughout the decades.

We express our sincere disappointment at the City’s handling of this matter and the lack of equitable treatment extended to our business. Floata Restaurant remains committed to serving the community and upholding the values that have defined our legacy.

Contact:

Brian Yu
info@floata.com
www.floata.com