Businesses feel the heat of Boracay shutdown

JUST as they were getting back on their feet after losses incurred at the start of the year, Islands Souvenirs must cope with another crisis—the six-month closure of Boracay Island.

Jonathan Jay Aldeguer, president and chief executive officer of The Islands Group, said five outlets of Islands Souvenirs will be temporarily closed as a result of Boracay’s closure starting on April 26.

This would mean revenue losses for six months and temporary migration of some of its employees to other store locations of Islands Souvenirs in Cebu.

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