National

GBCC President: It Couldn’t Have Come At A Worse Time

GRAND BAHAMA, BAHAMAS – One hundred Grand Bahamians will now join the unemployment line following news that PharmaChem technologies will no longer be in operation.

Published

2 years ago

January 9, 2024

Italia Hall

GRAND BAHAMA, BAHAMAS – One hundred Grand Bahamians will now join the unemployment line following news that PharmaChem technologies will no longer be in operation.

The company shared the reason for its closure is due to unprecedented challenges.

Operations are set to come to an end on January 12th, with a formal liquidation process to follow.

President of the Grand Bahama Chamber of Commerce James Carey says this decision will not only impact those one hundred employees.

And he says there was no clear indication that this closure was coming.

The Ministry for Grand Bahama calling the decision by the industrial company heartbreaking, given the ongoing recovery of the island.

The ministry said it is actively engaged in addressing the immediate well-being of affected employees and said the Department of Labour, will closely collaborate with employees on redeployment opportunities and retraining. Here’s what Carey had to say to that.

The chamber president says the chamber supports the entrepreneurial spirit encouraged by the government but after Hurricane Dorian, the island has lost a lot of its population.

But Carey believes that the island can recover from the company’s closure.