The London Pacesetter is the latest store in the bazaar to succumb to this plight since the closure of the Royal Oasis in 2004. A long-time clothing shop fixture in that local shopping compound, it finally fell prey to the economic stranglehold being experienced at the International Bazaar.
“I usually shop at this store for the latest fashionable outfits, especially for the beach,” said one female resident. “But the way things are going now down here at the Bazaar, it looks like all the stores will be closed in a minute.”
She commended the owners of the few remaining stores for their commitment and “I pray something happens soon for them and all of us.”
Stores in the International Bazaar have been suffering since the neighbouring resort property was closed down after Hurricane Frances in September two years ago.
Driftwood Freeport Limit-ed, owners of the resort, disclosed that the closure and lay off of over 1,200 employees as due to the heavy losses.
The Royal Oasis houses 965 rooms and 98 timeshare units which accounted for more than a one-third of Grand Bahama’s overall hotel room inventory.
Fortunately, things should be looking up for store owners in the shopping mecca as it was announced some three weeks ago that the Government has secured a sale for the resort.
World Investments Hold-ings (WIH) signed a contract with Lehman Brothers, the financiers of the Royal Oasis, for the purchase.
“We have been waiting too long for something to happen,” said a local taxi driver stationed at the International Bazaar. “We in Grand Bahama have struggling to keep our heads above water!”
Agreeing with the disappointed London Pacesetter shopper, he said “too many people are suffering with these stores closing, and something had to be done.”
Former workers at the Crowne Plaza Golf Resort and Casino at the Royal Oasis will get first pick at employment when the property reopens.
By BARBARA WALKIN, Senior Freeport News Reporter
