The list of once thriving companies dragged under by Puerto Rico's long-running recession and the tightening of the bank credit spigot keeps growing longer. The recent demise of Rigual Inc., a popular wholesale/retailer of floral and party supplies based in a quiet San Juan neighborhood for 61 years, is just one more example of how the ongoing economic climate can undo decades of success and hard work by management and employees.
Puerto Rico’s first Victoria’s Secret location will open in about six weeks, capping years of anticipation for the retailer’s arrival. The buzz is that the nearly 14,000 square-foot store will go “live” Nov. 17.
In the last month, two major health and home care product manufacturers have joined forces with retailers to distribute a pair of glossy catalogs including hundreds of dollars worth of discount coupons, further fueling their use in Puerto Rico, where consumers have been feeling the pinch of relentless cost of living increases.
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