By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

SEVERAL Bay Street retailers yesterday reiterated concerns that they would effectively be squeezed out of the Baha Mar project due to rival John Bull’s ‘master leasor’ for retail agreement at the $2.6 billion project.

While Tribune Business was able to confirm that Baha Mar has indeed signed a ‘master leasor’ agreement with John Bull, the specifics of the deal between Baha Mar and John Bull are unclear. Some retailers, speaking on condition of anonymity, called the arrangement unfair.

“I think all of the luxury retailers, every single one, is trying to get in Baha Mar right now. This arrangement doesn’t sound right to me. I’m quite surprised. I don’t know why they would have agreed to an arrangement like that. That doesn’t sound fair to me at all. It’s an obvious conflict of interest,” said one retailer.

Another told Tribune Business: “This is a cutthroat industry and obviously that would give them the complete monopoly in what can and cannot be done in a development such as Baha Mar, which they quite know everyone is trying to get into.

“That also means they can put the squeeze on brands that they would like into their own portfolio others are trying to get down to Baha Mar to give more presence to.”

Inga Bowleg, director of business development at John Bull, said she was not in a position to comment on the matter yesterday but would reach out to company executives, indicating that any comment would come via an official company press statement.

John Bull is owned by the Pritchard family. It has 12 stores in the Bahamas, and houses nine boutiques for luxury brands such as David Yurman, Cartier, Coach, Gucci and Bvlgari.