Local businessman and legislator, Mark Vanterpool has purchased the popular chain of restaurants and stores, Pusser’s British West Indies Limited.
Vanterpool, who owns the One Mart Supermarket Group, acquired the business last week.
He said some of his investment advisors said he was “crazy to be buying a restaurant business in the middle of the COVID-19 pandemic”.
So why did Vanterpool embark on this business venture in such an economic environment? The short answer, according to Vanterpool, is faith.
“I have immense confidence in the history and culinary traditions, often synonymous with the British Virgin Islands, that Pusser’s has developed over the past four decades,” he stated in a media release on Monday.
“We are looking forward to building on the legacy and foundation laid by Mr Charles Tobias and the Pusser’s team by focussing even more on one of my greatest passions – service,” Vanterpool stated.
Pusser’s was facing major challenges
Tobias started Pusser’s more than forty years ago but decided to sell the business after being hit by a series of crippling catastrophes.
The long-time restauranteur said he was therefore pleased with Vanterpool’s bailout.
“Pusser’s has faced major challenges over the past few years, and was heavily dependent on a strong BVI visitor base. Consequently, the company was severely impacted by the recession, then by Hurricanes Irma and Maria, and more recently, the COVID-19 pandemic,” Tobias explained.
“With virtually no visitor traffic, the past 12 months have been exceptionally challenging for our business, especially for our staff of over 100 employees as it has been for so many persons employed in the hospitality industry, not only in the BVI, but around the world,” he added.
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