The Liquor Control Board of Ontario has averted a strike from its workers.

The LCBO has been in talks with Unions over fears from workers that any potential privatisation of the retail monopoly would result in job losses or wage cuts.

Unions said they received many of the job assurances they were after, although according to local reports, both sides were reluctant to expand on details of the settlement.

Though employers had a tough week at the negotiating table, salesman profited as the fear of a strike caused a wave of panic buying from customers.

Media reports said LCBO's 600 Ontario stores took in C$43.6m on Monday and Tuesday this week, with stores having to call in all available employees to cope with demand.

"We saw pretty substantial increases," said LCBO spokesperson Chris Layton.