AML Foods announced yesterday that it will invest $3.5 million to reopen Solomon’s Freeport on York Street in Downtown Freeport as a part of its strategic expansion plan.
AML revealed it signed a 30-year lease to reopen the food store at the downtown location, which previously housed a Winn-Dixie food store.
President and Chief Executive Officer of AML Foods Limited Gavin Watchorn said despite the extensive damage and losses caused by Hurricane Dorian, it was always the company’s plan to maintain its commitment to the Grand Bahama community and reopen.
“We were working on the plans and details throughout COVID-19 and we are now ready to move ahead with what we feel is a great fit for both Grand Bahama and our company,” he said in a statement.
AML has pledged to establish a network of smaller neighborhood food stores which and drive up group-wide sales to $250 million by 2030.
The company said local contractors and artisans would be contracted to complete more than 80 percent of the work on the $3.5 million development.
“This location has been iconic for the Grand Bahama community in the past and we expect that our investment will act as a catalyst for the revitalization of the downtown area”, said Watchorn. “The new 20,000-square-foot store will feature a Solomon’s neighborhood format and will add approximately 40 new jobs to the Freeport economy,” he added.
“We expect to open this latest location in March of 2022 and priority will be given to Grand Bahamians for all job openings.”
As for its Queen’s Highway location, which sustained severe damage during Hurricane Dorian in 2019, AML revealed it has engaged Coldwell Banker James Sarles Realty to seek a rental or the sale of the property and will reinvest the proceeds into future growth opportunities.
“AML announced in March a $1 million renovation plan for Solomon’s Lucaya with a completion date of mid-June,” the statement noted.
“However, due to some unforeseen delays from suppliers as well as in the construction industry, the project is now projected to be completed by mid-August.”
AML employs roughly 200 Grand Bahamians through its Solomon’s Lucaya and Cost Right Freeport locations and its Corporate Support Center.
The post AML investing $3.5 million in new Freeport location appeared first on The Nassau Guardian.
source https://thenassauguardian.com/aml-investing-3-5-million-in-new-freeport-location/
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