Officials say slashed ticket prices here to stay for foreseeable future
Foulkes: It will take some time for us to climb out of the hole
NASSAU, BAHAMAS — Fusion Superplex executives said over the weekend that the COVID-19 pandemic has been “devastating” to the business’ bottom line, setting it back two years.
Fusion Superplex CEO Carlos Foulkes said: “We’re back in business and we’re happy. We also wanted take a break and recognize the fact that the business has survived, that we’re open and we want to let the public know that we are doing it safely.”
Tecoyo Bridgewater, chief legal officer at Fusion, said: “The pandemic has been devastating to our bottom line. We are looking for a resurgence this Christmas. We have a number of awesome movies, we have a number of amenities and experiences.”
According to Foulkes, the COVID-19 pandemic and subsequent economic downturn have put the business back at least two years.
“I would say about two years. We just launched a renegotiation with the lenders,” said Foulkes.
“They are considerate of the fact that we are just getting back in business and what has happened in the past.
It will take some time for us to climb out of the hole. We hope that by the summer of 2022, we will be back to a normal operating profit.
– Fusion Superplex CEO Carlos Foulkes
“They’re very amicable to the rearrangement of debt and we just ask the public to come out and help us.
“It will take some time for us to climb out of the hole. We hope that by the summer of 2022, we will be back to a normal operating profit.”
Foulkes noted that the company has slashed ticket prices, a move he said it plans to stick with for the foreseeable future.
“We slashed our ticket price because we saw that when the pandemic hit, people’s disposable income dwindled away and savings were being used to sustain persons,” said Foulkes.
“We knew we would take a blow but I would rather have persons coming in on a reduced rate than no persons at all because they couldn’t afford the ticket prices.”
