Businesses close as financial crunch continues

HAMILTON (CMC):

As Bermuda continues to grapple with its financial crisis, three supermarkets under the same ownership were forced to close their doors and, as a result, more than 80 persons are now unemployed. On the weekend, a cycle shop also announced that it will be closed by month end.

The supermarkets, White & Sons, founded in 1924, employed 85 staff at its three stores.

White's main store in Warwick has gone into liquidation, while sister stores Hayward's, also in Warwick, and White's at Southside on the former US naval base, are also subject of winding-up petitions by creditors.

Stock at White's Warwick store was sold at heavily discounted prices on Wednesday and Thursday after no prospective buyers came forward.

One cashier, who asked not to be named, said: "I've worked here for four years. It's sad because it's a business that's been here for a long time and now has to be closed."

Shopper Vera Sandy, from Warwick, said: "It's painful - I used to shop here a lot. I feel quite nostalgic today. It's really going to be a big miss for the community. People from all over Bermuda came here."

Hamilton cycle livery Wheels blamed its closure on an "extremely challenging trade" for both rentals to tourists and retail bike sales.