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Haiti - FLASH Agro-Industry : The poultry company Jamaica Broilers (Le Chic Poulet) leaves Haiti
After 3 years of accumulated losses caused by multifaceted crises (insecurity, covid, recurring fuel shortage, socio-political crisis, earthquake, etc...), a drop in its turnover in 2022 of 44%, JB, with his departure from Haiti expects to lose approximately US$5.9 million representing all of the company's net assets in Haiti (facilities, property, equipment, inventory, investments and receivables, etc...)
IN the last report for the quarter ended July 30, the assets of the Haitian operation were estimated at $5.5 million, representing 1.3% of the group's total assets. Just a year ago, assets stood at nearly US$13 million.
This week, Ian Parsard, said "As far as Haiti is concerned, we have ceased all operations in the country [since October 29, 2022]. We are not trying to recover anything in the country, because it’s just not tenable for people to be operating there. To be able to transact business and collect money in the country, it’s a recipe for disaster, and we are not putting people’s lives at risk [...] So we have paid off all staff and we have no security, nothing. We are out of Haiti."
Parsard said that while JBG has withdrawn from Haiti some aspects of the business may survive under T&S Rice SA, a longtime Haitian company that has become a subsidiary of Haiti Broilers over time. T&S Rice held the rental rights to the Haiti Broiler property in Port Lafiteau which doubled as its head office, distribution center and animal feed manufacturing plant.
"T&S Rice will survive Haiti Broilers if the folks who are taking it over want to continue the business. That’s completely up to them,” Parsard concluded.
Let's recall that JBG produced more than 4 million eggs each month or 10% of the monthly consumption of the country and had 182 employees at the time (2015), at its peak, JBG had nearly 500 employees.
Learn more about JBG's operations in Haiti visit : https://www.jamaicabroilersgroup.com/operations/haiti
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