Published On: Fri, Jun 27th, 2014

Another bakery files for bankruptcy

white-breadWILLEMSTAD – Another hit for the economy of the island. A well known bakery in Curacao files for bankruptcy and will close its doors on June 30. The Panaderia Majestic is one of the oldest bakeries on the island. The staff will receive their last salary on this day, but that’s about it because, according to the owners, there is no more money to keep the well known bakery open.

This is the second bakery that closes its doors in less than a month. The first one was the popular Hollandsche Bakkerij (Dutch Bakery), which also filed for bankruptcy.

Several Bakers have indicated that it is extremely difficult for them to operate their business because of the pricing policy of the government. This policy forces them to produce cheap bread based on water and flour.

Bread is one of the primary products and the price is regulated by the government. According to the bakers, the price set by the government doesn’t even cover the basics of operations. “Little by little you will see more bakeries closing their doors,” the bakers association said.

How many people will lose their job after June 30 is not yet known. There are some employees who have been employed at Panaderia Majestic for more than 20 years.

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