Tim Hortons' reputation is looking less and less sunny after another report showed them slipping with Canadian consumers. (Tim Hortons / Instagram)

2018 is continuing to be a tough year for Tim Hortons, as the once beloved chain failed to rank in the top 50 on a list of the most reputable companies in Canada.

A new report released by the Reputation Institute (RI) placed Tim Hortons at the 67th spot on a list of 250 companies ranked according to their perceived trustworthiness.

Last year’s report put Tim Hortons at the 13th spot. The drop makes Tim Hortons this year’s fastest faller according to the report, with a total score change of -5.7.

(Canada RepTrak 50/Reputation Institute)

“Authenticity really matters to Canadians, and we judge companies harshly when we don’t believe they live up to their stated values,” said Daniel Tisch, President and CEO of Argyle Public Relationships, a leading Canadian expert in reputation management.

Indeed, the report states that being perceived as genuine by consumers has the highest positive impact on a brand’s reputation.

Of those surveyed, 47% said they would recommend Tim Hortons—a drop from 66% in 2017. 43% would say something positive, as opposed to last year’s 62%.

(Canada RepTrak 50/Reputation Institute)

This is the second report in about a month that shows the company falling out of favour with Canadians, though its reputation is still considered good by RI’s standards.

Cost-cutting measures taken by the chain’s parent company, Restaurant Brands International are seen as one of the contributing factors, and the RI report specifically points to problems with workplace environment and governance.

Tim Hortons came under fire earlier this year for cutting worker’s benefits at some franchise locations after minimum wage hikes in parts of the country.

For an example of which brands Canadians find trustworthy, Tim Hortons could look at the report’s top five: Google, Lego, Rolex, Nintendo, and MEC.