Arkadash Bistro closes its doors on Portage Avenue over financial issues

Arkadash Bistro and Lounge has closed its doors after less than three years in business, citing financial issues.

A sign on the door of the establishment states that the business owes $10,000 to Ash Management.

Owner Kelvin Peters confirms it’s no longer in business. He says there were plans to rebrand the Turkish-themed restaurant, but that’s no longer the case.

Arkadash opened in 2011, taking over the space from The Chocolate Shop.

Last year, Peters said the restaurant lost money during the NHL lockout. The business had hoped to capitalize on the return of the Jets to Winnipeg.