The perfect financial storm is ripping the heart out of Bridgetown by destroying businesses and displacing workers, says a leading merchant.
Eddie Abed, managing director of Abed’s on Swan Street, forecast that by the end of next month, another seven to ten operations in The City will be downsizing with up to 50 workers losing their jobs.
“The outlook in the short to medium term in terms of retail in Bridgetown in particular is not good,” said Abed, who is also a member of the Barbados Chamber of Commerce and Industry’s (BCCI)?Bridgetown Revitalization Committee.
“We have a triple whammy,” he added. “One, the tourist winter season was not particularly good this year. Two, Government has been moving several of its offices in Bridgetown and its environs out and the catchment area has been reduced. And three, disposable income generally across the board is down. I don’t want to say that this is the perfect storm, but you have the makings of that situation.”
