españolCabify Withdraws from Panama and the Dominican RepublicTuesday, October 13, 2020 Arguing that the decision is due to the commitment of the search of the profitability, from November 8 the Spanish company of transport by application will stop offering its services in Santo Domingo and Panama City. As a result of a constant process of analysis of the markets in which it operates, the company has made the strategic decision to stop its service in both capitals, the company said in a statement. Fabrics: Factory Closes in GuatemalaFriday, August 28, 2020 After 20 years of operation, Modas B.I. Apparel, a company specialized in the manufacture of clothing, decided to close its doors due to the economic crisis caused by the outbreak of covid-19. The company operated an industrial plant that employed 800 workers and was located at Kilometer 8 of the Atlantic Highway, in the jurisdiction of the Department of Guatemala. Businesses in Panama Requested to Be ClosedFriday, March 20, 2020 Due to the spread of covid-19, from March 21, 2020 and for a period of 30 days, the government has ordered the temporary closure of shops and businesses in the country, with the exception of pharmacies, supermarkets, banks, gas stations and others. The Ministry of Health considers it necessary to apply additional health measures to reduce, mitigate and control the spread of the disease COVID-19, in view of the pandemic declared by the WHO, explains the decree published in the Official Journal. Sanborns Closes Operations in PanamaMonday, January 13, 2020 The chain of department stores that had a branch in the Panamanian market, announced that since January 12 it stopped operating in the country. The company made the announcement official on the morning of January 11, but in its publication broadcast on social networks, no further details were given of the reasons that motivated the chain to withdraw from Panama. Business Operations in Guatemala Become More FlexibleWednesday, March 18, 2020 One day after the suspension of work in the private sector, authorities reported that all companies complying with the health and safety protocol will be allowed to continue operating. On the night of March 16, public and private sector work was reportedly suspended, and shopping centers, bars, and discotheques were ordered to close, while public transportation was prohibited, in an effort to contain the spread of covid-19.
GEOMARKETING SOLUTIONS
Pets: Potential Market in Central AmericaTuesday, October 20, 2020 Go Pet, located in Paseo General Escalon in San Salvador, has a potential market of 465 thousand consumers 15 minutes away by car, and of this group of people 27% are interested in dogs and 20% in cats. Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Trade Intelligence team analyzed the environment of some of the main locations of the establishments dedicated to the sale of veterinary articles, food or services for pets, operating in the countries of Central America. The following is an abstract of the study's findings. Panama: Bank Liquidation AuthorizedTuesday, May 29, 2018 The banking authorities of Panama have authorized Banco Santander to initiate a voluntary liquidation process. Despite, that the resolution by the Superintendency of Banks in which the voluntary liquidation of the entity is authorized, dated from December 22, 2017, it was not until this Monday, May 28, 2018, when it was published in the Official State newspaper, La Gaceta and the measure acquired legal force. Restaurant Chain Closes Stores in Costa RicaMonday, March 23, 2020 The TGI Friday's chain decided to close its store located in the Oxygen Human Playground shopping center, in the province of Heredia, for a 90-day period. "As you know, the food and beverage sector has been highly impacted, which is why we have taken the measure to suspend operations at our Friday's Oxygen store," explained a statement issued on March 21 by the company. Costa Rica: Mabe Closes Refrigerator Production PlantFriday, December 4, 2015 The manufacturer of cookers and refrigerators is transferring to Columbia the refrigerator production line it has thus far operated in Costa Rica, where it will maintain a corporate center for the region. Mabe explained that the reason is due to a change in the technical rules in some Central American and Caribbean countries where they distribute their products. In order to comply with this regulation, it became "... necessary to make modifications to the production line and product design," said Pablo Moreno, director of Corporate Affairs to Elfinancierocr.com. Fast Food Chain in Costa Rica ClosesMonday, October 5, 2015 Burger King Costa Rica has announced the closure of 29 restaurants operating in the country, after a decision was taken by shareholders and the franchisor BKC US. Since February the franchise has closed four of its stores in the metropolitan area, citing a lack of financial viability. Guatemala: Changes in "Fast Food" MarketTuesday, August 11, 2015 The chain of fast food restaurants Quiznos, operating since 2004 with twelve outlets, has closed its operations. The union of restaurants in Guatemala confirmed the closure of the chain of US origin, which in March 2014 began the process of acceding to Chapter 11 bankruptcy. Salvador Contreras, union representative, told Elperiodico.com.gt that "... officially no reason for the closure is known or if there is an operation with firms that are replacing the brand." Panama: Forced Liquidation of Brokerage FirmFriday, June 10, 2016 Citing several irregularities during the intervention process, the Securities regulator decided to order the liquidation of the brokerage firm Panama Wall Street. From this moment forward, investors and creditors of Panama Wall Street S.A. must present themselves at the company's premises to declare the amounts owed to them and start due process with the authorities who will lead the settlement process. Guatemala: Pressure From Tax Audit OfficeFriday, March 1, 2013 So far this year one hundred businesses have been closed and another 1,200 are being targeted by the authorities because of invoicing problems. Siglo21.com.gt reports that "the head of the Tax Authority (SAT), Miguel Gutierrez, said that so far this year, 100 businesses have been closed temporarily and at least 1,200 are under observation, all of them for billing problems or because they did not deliver invoices to their customers. " Bank of America Closes Service Center in Costa RicaWednesday, April 9, 2014 The company has announced the phased closure of the operation in the country and the laying off of 1,500 workers over a period of 9-12 months. In addition to the service center specializing in finance and technology in Costa Rica, the U.S. bank will also cease operations in the Philippines and Mexico, as part of an overall process of re structuring of the company. Order to Liquidate Cooperative in PanamaFriday, March 22, 2013 The Panamanian Autonomous Cooperative Institute yesterday ordered the liquidation of the Savings and Credit Cooperative for Employees of the Social Security Fund, due to irregularities in its operations. Cooperativa de Ahorro y Crédito Empleados de la Caja de Seguro Social (Coacecss), was seized in June last year, triggered by an "administrative and financial deterioration" in its handling, specifically for opening foreign accounts for excessive amounts on the entity's balance sheet. |
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Saturday, October 24, 2020 - last update: 5:00 pm
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