Señor Frog’s has permanently closed
its doors in Grand Cayman.
The restaurant and souvenir shop
was in its fifth year of operation, but a combination of the global economic crisis
and an unusual amount of missed ship calls due to inclement weather made it
unsustainable, said licensee Stefan Baraud.
“The reality is that we couldn’t
continue to sustain losses and had to make the unfortunate decision to close
the doors,” he said. “It is a direct
result of the economic downturn and declining cruise ship numbers.
“What dealt the knockout punch for
us was that we lost 68 cruise calls in the middle of the season with ships
diverted to Spotts or not coming at all. We’ve had unprecedented weather this
season and it compounded the problem,” said Mr. Baraud.
No silver bullet
The premises are now vacant, he
said, adding it was sad to have to close the doors when their fifth birthday
would have been in August.
“For the first three and a half
years it was a viable business, but we just couldn’t continue to run operations
with the losses we’ve been experiencing month after month for the last year and
“This season we thought we’d be
able to pull ourselves out of the problem but the weather and those lost calls
compounded the problem,” he continued.
Mr. Baraud, who is also the
chairman of the Port Authority board of directors, warned that there was no
silver bullet to the situation of the economy although the dock would help some
of the ailing businesses in George Town.
“There are many more businesses
that are about to follow suit; I don’t think we’ll be the last business to
close in town any time soon. I think you’re going to see businesses either significantly
consolidate or go out of business because of the economic climate,” he said.
“The reality is that until things
improve significantly enough with the global economy we’re at the mercy of that
until things turn around.”