FOUR MONTHS after closing the last of four stores and laying off nearly 40 employees, Anne Riley-Rowe of Moods & Options says refinancing of the business is imminent, while severance for staff is ongoing.
Riley-Rowe, the owner and managing director of the beauty supplies stores, confirmed yesterday that two of them – one in Speightstown, St Peter, and one in Trident House, Bridgetown – closed last year, while the other City store in Speedbird House and the Haggatt Hall branch in Mall Internationale closed earlier this year.
She attributed the closure of the business after 16 years in operation to the prevailing economic conditions and lack of financial support from the banks.
“The banks are not working with small businesses,” said Riley-Rowe, adding that they should be more interested in the well-being of such entities as they formed the fabric of society.
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