This is an example of what happens with excessive government regulations strangling the private sector. In PR, the private sector is being squeezed by the government sector, with far too many government employees sucking the life out of PR. The ratio of government employees to private sector employees is unsustainable.
GameStop to Close Puerto Rico Stores
By Caribbean Business on January 11, 2016
SAN JUAN – Video game retailer GameStop announced it will close its more than 40 Puerto Rico stores in March, attributing the decision to the additional impositions and taxes levied by the government. About 400 employees will lose their jobs as a result of the pullout.
Joy Mooring, director of public relations at GameStop, told a local daily that the company informed store managers of the decision at an Isla Verde hotel on Monday morning. “In light of the increasing business challenges and growing government restrictions in Puerto Rico, GameStop decided to close all of its operations on the island,” Mooring said.
The retail chain, based in Grapevine, Texas, operates around 6,500 retail stores throughout the United States, Canada, Australia, New Zealand and Europe. The company reported $9 billion in 2014 revenue.
By Dennis Costa