Front Street feels the pain

FRIDAY, OCT. 19: Once-booming Front Street is suffering — due in part to the withdrawal of a regular cruise ship and the recession. A total of three stores have closed on the iconic Hamilton shopping street in the last few weeks, with other businesses in surrounding streets also shutting up shop.

We broke the news yesterday that Crisson will close its satellite jewellery shop on Front Street and its operations will be moved into its main store just down the block.

The company said it was reorganizing “to more efficiently manage” its inventory. Two employees will be retired in the move.

Susan Millar, vice president and general manager of HS & JE Crisson Ltd, said: “After thirty-one years, we have decided to re-launch and re-brand our shop at 71 Front Street.  

“The Crisson and Hind African Art Gallery will shortly move from its present location of the past fourteen years on the second floor to expand onto the ground floor. Our jewellery shop on the ground floor will be integrated with our recently remodeled flagship location at 55 Front Street.  

“This improvement will enable us to display all of our numerous collections to world class standards in this superior environment whilst also enabling us to achieve greater efficiencies with our inventories.” Ms Millar said the other Crisson locations on Queen Street, Dockyard and the Fairmont hotels remain unaffected.

She added: “Undoubtedly, there will be some speculation that these changes are the result of the present economic climate. To some extent this is true in that we have recognized the need to more efficiently manage our very valuable inventories and have as well initiated the retirement of two employees. Nevertheless, we have been aware for several years that our flagship 55 Front St is our primary investment and that our 71 Front St shop is well suited for new projects and opportunities such as we are now undertaking.”  

Coopers on Wednesday announced it was closing its Harbourside shop.

Earlier this month the Bermuda Sun broke the story that Carole Holding was closing its Front Street store. Washington Mall retailer All Wrapped Up also announced it was closing up shop after 17 years in business, while

Both said they were shutting up shop in part due to the lack of a Hamilton cruise ship in 2013.

Foreign Cargo on Burnaby Street and Fresco’s bar and restaurant Chancery Lane have also closed in recent weeks.

In a letter to Government in June 2009 Holland America, owner the Veendam which was a regular caller to Hamilton in 2012, said it was “fearful” the company’s long-term ambitions in Bermuda could be “in jeopardy” if they were not allowed to open their casinos in port.

Somers Cooper, managing director of AS Cooper & Sons, said on Wednesday being the only shop on the waterside of Front Street was challenging but “the departure of the Veendam sealed our fate”.

Carole Holding, who will be moving her inventory from her iconic Front Street store to other locations, said: “It no longer makes financial sense for us to have a Front Street location.”

Paula Clarke, Chamber of Commerce retail division chair and Gibbons Company CEO, said: “Having smaller ships on Front Street is crucial. We need more of the boutique-style ships that have more disposable income – that is really what is needed for Hamilton Harbour.”

Ronnie Viera, president of the Chamber of Commerce, said: “Our members continue to experience, for the most part, a decline in sales. Clearly you would not have businesses closing their doors and companies laying off staff if these businesses were forecasting an improvement.