HARDWARE AND Lumber Limited has lost millions of dollars as a result of the cement shortage choking the nation.
Hardware merchant Anthony Holness, CEO of Hardware and Lumber Ltd., said the impact has been a two-edged sword. In addition to losing revenue earned from cement sales, the shortage has hurt the sales of other hardware items.
Mr. Holness said his company started to feel the pinch in the last quarter of 2005.
Things got worse in March 2006 and quickly rushed to an "absolutely chronic" stage last month, he said. "The effect on our business has been tremendous," lamented Mr. Holness.
He disclosed that Hardware and Lumber was forced to lay off several workers last month.
The CEO revealed that sales in the building material and contractor stores dropped by 30 per cent, while the wholesale hardware business has been rocked by a 45 per cent reduction in revenue.
