Economy major Cost-U-Less worry
Warehouse retailer Cost-U-Less is feeling the pinch from Barbados’ economic recession and increased competition.
The Welches, St Thomas store, owned by Canada’s The North West Company, was criticised after receiving generous concessions from the last administration, and it has been embroiled in a labour dispute with the Barbados Workers’ Union.
However, based on concerns raised by the head of its parent company, Barbados’ current economic woes are a greater worry for the company operating here for more than five years.
Speaking in a conference call from Road Town, British Virgin Islands (BVI) on Thursday, North West Company president and chief executive officer Edward Kennedy said Barbados was “disappointing” for the company during its last financial quarter. (SC)
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