Thursday, April 25, 2024

Cave Shepherd cuts, shifts soon

Date:

Share post:

Hit by falling sales, the company which operates Cave Shepherd, Barbados’ biggest department store, is rolling out a two-year plan to revitalize its businesses, but some employees will lose their jobs in the process.
In a statement issued yesterday, Duty Free Caribbean Holdings (DFCH), which operates 70 stores in the region, including local retail companies, said it had been battling an extended period of depressed economic conditions not only in Barbados but throughout the region.
A major part of the restructuring plan, the company revealed, will include contracting space in its Broad Street, Bridgetown flagship store to independent operators.
Chief executive officer of the local office, Peter Allan, explained that over the past four years, DFCH, like many other companies in the region, had suffered the effects of the global economic downturn, which had resulted in a decline in sales mainly in the duty-free operations. (GE)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Body found near Culpepper

There are reports reaching The Nation that a body was found in the area of Culpepper, St Philip. Initial...

Time to focus on national issues

ARE THE DEMS united, or are they fragmented? The reason I ask though is because shortly after Member of...

Dominica High Court overturns ban on same-sex relations

Dominica's High Court has overturned a ban on consensual same-sex relations in the Caribbean island nation. The court ruled...

Usain Bolt named ICC Men’s T20 World Cup 2024 Ambassador

ST JOHN’S, Antigua – The International Cricket Council (ICC) have announced Olympic legend Usain Bolt as an ambassador...