Caribbean Bottling Co. sales down in GB since passage of Matthew
President and CEO of Caribbean Bottling Company (Bahamas) Ltd. Walter Wells said the company’s business has declined by roughly eight percent in Freeport, Grand Bahama since the passage of Hurricane Matthew.
Speaking with Guardian Business recently, Wells pointed out that Memories Grand Bahama Beach Resort was a good customer of the bottling company, but the resort remains closed to date.
The decline in sales did not come from losing just one customer, Wells indicated, as many consumers had to curb their spending as a result of hundreds losing their jobs after hotels on the Lucayan strip announced they would not be reopening until further notice.
In addition to a sudden influx of unemployment on the island, Wells noted that Grand Bahama was already “struggling a bit” prior to Hurricane Matthew.
He added that the island has continued to struggle since the storm’s passage.
“Ever since Hurricane Matthew, I think most businesses in Freeport would have seen some subtraction in their operations, and ours has been no different,” he said.
“Memories was a good customer of ours. It was disappointing when they didn’t reopen. The bigger picture is that hundreds of people lost their jobs and incomes to support their families.
“It is a small community, so it tends to rebound quickly when something positive happens.
“Conversely, it declines quickly when something negative happens.”