In the past few months, Belize City has seen the closure of legacy businesses such as Augusto Quan and Smiling Meats. Well, with only 18 years in operation, Bottom Dalla is not quite in that league of decades old business establishments.
But, it is the discount retail outlet for one of the oldest merchant houses in Belize - which is the 97 year old Santiago Castillo Limited. And tonight the news is that it is closing its doors.
A release says, quote, "Santiago Castillo Limited has been in business for the past 97 years, and regrettably we announce the closing of our Bottom $ supermarket with effect August 31st 2023."
And why is the low budget supermarket on North Front Street closing? Well, the release says, quote, "we have always committed to giving our customers both value for money and a pleasant shopping experience. However, this comes at a cost and due to unfair competition, compounded with proposed changes in market conditions....the owners decided it was better to close and focus on our other businesses." End quote.
Those other businesses are mainly wholesale businesses. And the proposed changes in market conditions refers to government's plan to increase the list of price controlled items - making it so that merchants can only get a 15 to 20% margin - which they say is not enough to cover the cost of operation.
And while it's bad news for San Cas - it's good news for consumers because everything is on closeout sales until the end of the month.
As for the 15 or so employees, the release says they will be hired in other areas of the San Cas group.
