Fogarty’s will still be there
The name Fogarty’s has been around for many decades and it is not about to just disappear according to Glen Khan Chairman of the Laparkan Board under which the fogarty store falls. Khan said the building has been sold by Laparkan but it has an arrangement with the buyer who he said is a Guyanese business to lease the building. He was not about to release the name of the buyer for what he said were confidentiality obligations.
Forgaty’s has several departments and some of these may be closed when the new arrangements unfold. Khan said several of the partners of Fogarty’s were informed of the moves by the Company and believes that recent press reports may have created some uneasiness. He disclosed that the financial services operations remain a crucial part of their business.
The lease back arrangement will see the new owners making several physical changes and according to Khan could see an increased number of persons employed.