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Caribbean Broilers invests $30m to fast track recovery of the restaurant sector

Friday, May 22, 2020

KINGSTON, Jamaica — The Caribbean Broilers (CB) Jamaica Limited Group has launched “Recover Together”, a $30 million initiative that will offer recovery support to over 2,300 restaurants and cook shops across the nation.

The company said Recover Together will assist restaurants to reopen their doors and re-employ thousands of direct and indirect employees who lost their jobs as a result of COVID-19. The" Recover Together" package will include flexible credit terms and product discounts of 10 per cent to 20 per cent to ease the financial burden of the last three months, as well as marketing support to re-engage the dining public.

The food services industry has been one of the hardest hit by the economic fallout over these past few months with over 700 cook shops, restaurants, fast food outlets and food vendors having to close their doors and with those remaining open experiencing on average a 60 per cent decline in business.

“With an estimated 50,000 people employed in this industry, we understand how vital our restaurants are to our economy and the crucial role they play in the sustainability of so many spin off industries like farming, attractions and tourism. So when a quarter of our customers said they could not reopen without support and another 65 per cent said they could use a jump start we knew we had to step up,” COO of the CB Group, Matthew Lyn said.

The restaurant recovery package will become available to customers from June 1 and will last until July 31.

Phase one will also drive business to some restaurants islandwide as the group will contract them to show its appreciation to 25,000 frontline workers throughout Jamaica.

In this initial phase will see meals, gift baskets and restaurant gift certificates distributed to doctors, nurses, security, media, utilities and sanitation and transportation workers, who the company deems to have played essential roles during lockdown.