Jun 2016 Financial News

New Liguanea HiLo complex to house four GK subsidiaries

Jun 29, 2016

GraceKennedy Limited (GK) has completed renovation of 33,700 sq ft. of retail space adjacent to Lane Plaza, Liguanea, which is now home to its newest HiLo supermarket, with the store featuring items from fresh flowers to a range of ready-to-eat foods. The store has 70 employees.

The complex will also become home to other GraceKennedy subsidiaries which have outlets in the Liguanea area, before the end of the year.

“The bank (First Global Bank) will be relocating and is scheduled to commence operations in September. Western Union and Bill Express will also be a part of the new set-up,” Group CEO Don Wehby told the Jamaica Observer on Tuesday.

The new HiLo store was opened on Friday, June 24th, with a soft launch. The actual launch is scheduled for August, Wehby said.

The supermarket occupies space which was previously the home of Empire supermarket which shuttered operations in 2015. At the start of the year, Wehby said the budget for renovation was in the region of $100 million.

“In addition to the regular supermarket assortment we have included a wide range of baked items and ready-to-eat options such as salads and sandwiches, a juice bar – the third in the chain, and a floral hut where customers may purchase fresh flowers. Customers can expect a similar shopping experience to that of our recently renovated Barbican and Manor Park stores,” the group CEO said yesterday.

Wehby said GK remains committed to food retailing in Jamaica and as such, has committed to investment in renovating, upgrading and acquiring stores across the island. HiLo Liguanea is its 13th supermarket and the latest to be upgraded.

HiLo was previously located in Liguanea Plaza across the road from the new location, but that operation was shuttered when owners of the Plaza called the lease and opened their own store.

Wehby indicated that the new store is twice the square footage of the old one.

The group CEO said earlier in January that he expected the store to become profitable within the first 12 months of operation.

Source:
BY AVIA COLLINDER
collindera@jamaicaobserver.com
Business reporter
Jamaica Observer
Wednesday June 29, 2016

http://www.jamaicaobserver.com/business/New-Liguanea-HiLo-complex-to-house-four-GK-subsidiaries_65464