The Home Store closes in Chaguanas; MovieTowne Tobago shuts down

The Home Store has closed its Chaguanas branch, just one day after MovieTowne shut down operations in Tobago.

In an announcement on January 5, The Home Store cited “the continued decline in the economy” as the reason for closure. This comes after the store closed its East Gates Mall, C3 Centre and The Falls at Westmall branches in 2025.

The store’s Barataria branch and its two branches in Guyana remain open.

The Home Store’s parent company, LJ Williams, recorded a total comprehensive loss of $875,000 for the period for the six months ending September 30.

Its loss for the same period in 2024 was $974,000.

The company’s turnover fell to $71.35 million from 2024’s $73.30 million

While acknowledging the improved loss margin, chairman Lawford Dupres said weaker consumer spending and limited access to foreign markets continued to challenge the distribution side of the business.

As a result, operational adjustments included a reduction in the number of outlets so resources could be focused on higher-performing locations and reduce overhead costs.

Its condensed financials, published November 6, recorded $71.355 million in sales, but its operating profit of $2.14 million was offset by finance costs of $2.63 million.

The group said foreign exchange availability will remain a key factor for the business and management will focus on cost control and the outlets that have proven "greater promise" in the coming months.

Although not stating a reason for the closure, MovieTowne's announcement comes after widely reported legal battles with its Port Authority landlords.

In August 2024, the company's lease holder, Trinidad Commercial Development Company Ltd, paid $3 million to the authority after a court order. The Port of Spain and San Fernando branches remain in operation.

The economic viability of MovieTowne's Tobago branch has been a cause of concern for quite some time, with rumours of its closure rampant since the covid19 pandemic.

MovieTowne currently has a buy one, get one (BoGo) promotion from January 5-31, from Monday to Friday, in Trinidad. Patrons can buy one movie ticket and get another free. On weekends, the BoGo promotion will continue at DinoWorld and any three park rides in the carousel will cost $100.