THE TST Group of Companies, a longstanding family-owned entity in Papua New Guinea since its establishment in 1979, has announced the closure of its retail shop in Boroko, Port Moresby.
The company issued a notice to its customers informing them of the closure advising that Sunday, July 14 will be their last day of operation.
“It is with heavy heart that we share the news of the closing of our family business, TST. After 45 years of operation, we have made the decision to close our doors,” the notice stated.
The Chief Executive officer of Tan Investment, Jessica Crowly said TST is a family-owned and operated business since 1979.
“Three generations of our family have worked at TST. The saddest part about closing our doors is knowing that we have been trading in PNG for almost as long as PNG has been an independent nation,” she said.
“Our journey began with pioneering the mini-supermarket concept alongside Papindo, Andersons, and SVS. Transitioning from traditional trade stores, we aimed to offer affordable prices comparable to supermarket giants such as Steamships and Burns Philip, ensuring Papua New Guineans could stretch their kina further.”
Over the decades, TST has played a vital role in the community, providing essential goods, employment, and becoming a staple for households across Port Moresby.
Crowly said the decision to close the Boroko shop was influenced by challenging economic conditions in PNG.
“It’s a tough economy. I feel for our customers and the wider community. Everyone is feeling the pinch. Being an island, PNG relies heavily on imports. With rising inflation, problems with product accessibility, limited forex and unregulated competition everything is working against us. Our ethos has always been to provide quality products at affordable prices for the people of PNG. It’s getting harder and harder to do that. To see a customer struggle to purchase a packet of biscuits for K1.30 is heartbreaking. The countless jobs we have been able to provide to the community for as long as we have, has been the silver lining to the poverty that we come face to face with every day,” she explained.
Regarding the impact on employees, TST assured that job security arrangements were made with the new tenant.
“Our employees are saddened, but we’re navigating this transition together,” she added.
She added that the announcement of the closure has caused an emotional response from loyal customers.
“Our customers have been the bedrock of our success,” Crowly expressed.
“Their loyalty and support have been invaluable, and we hope they carry fond memories of their time with TST.”
Looking forward, TST plans to focus on its property division, managing a diverse portfolio across PNG.
“We don’t have plans to leave Papua New Guinea. It’s a beautiful country and it will always be home to us. My Father was born here, so was my mother. My siblings and I currently live and work in PNG. We plan to focus on our property division. We will still run our maintenance team and service the properties within our portfolio,” Crowly said.
We also want to continue to give back to the community that has given our family so much. We would love to see the TST legacy live on through forms of charity and that is something we intend to explore and bring to fruition in the future.”
As the company bids farewell to its Boroko shop, it also reflects on its growth from a single trade store to a multifaceted enterprise, leaving behind a lasting impact on PNG’s business landscape.
