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Fiction loses big

Fiction-VIP

FICTION Lounge took a huge financial hit, which helped deepen its owner’s net loss to $56 million in 2013.

KLE, which also operates Famous Night Club and Usain Bolt’s Tracks and Records, blamed the more than tripling of its loss position, from $15.6 million in 2012, on uncertainty surrounding an International Monetary Fund (IMF) deal early last year and a rapidly devaluing Jamaican dollar, which is still taking place.

Published in the Jamaica Observer
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