LCBO CEO George Soleas has been managing the decline of the provincial agency, not showing leadership

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The LCBO made some remarkable news last week: 2025 will be the first year in a decade that Ontario’s government liquor stores will turn over less than $2 billion to provincial coffers.

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Most of the analysis so far is that this is due to expanding the sale of beer, wine and ready-to-drink beverages to convenience, grocery and big-box stores.

The real answer is much more complex than that and includes regulatory changes, fewer people drinking or drinking less, and the issue few want to talk about – bad management.

The LCBO still has a monopoly on the retail of liquor in Ontario, and until late last year with the expansion of beer and wine sales had a near monopoly on wine sales as well. Still, despite this, the amount that the LCBO has been handing over to the province as part of their annual dividend has been falling for years.

Don’t blame privatization, blame CEO George Soleas and LCBO board chair Carmine Nigro, who should be whipping Soleas and the LCBO........

© Toronto Sun