Thursday, May 21, 2020

Retailers: 'Curb Side Can't Cover AC Costs'


By YOURI KEMP
Tribune Business Reporter
ykemp@tribunemedia.net

Several Bahamian retailers were yesterday said to be on the verge of bankruptcy due to the COVID-19 lockdown, with some saying: "Curb side sales can't even cover the cost of turning the AC on."

Tara Morley, the Bahamas Federation of Retailers (BFR) co-president, told Tribune Business yesterday that members were increasingly calling her and warning their businesses will be unable to survive as they enter their tenth week of being closed.

"Some of them are large clothing retailers in the nation, and it is more than just one," she said. "There are about six that I personally know of. Obviously they are not wanting to have that information disclosed."

She spoke out after the Federation, in a hard-hitting statement, warned that many retailers "already on the edge" prior to COVID-19 were likely not to re-open in a move that will worsen unemployment levels projected by the prime minister to be at 30 percent and rising.  Read more >>