Winds Fishing Tackle is closing later this month, says the company's manager/director.

Mr. Bobby Jones said revenues generated during the summer peak season were only enough to cover overhead costs for the rest of the year.

And because more fishermen are buying what they need abroad, the business is not viable any more, Mr. Jones said.

"The recreational fisherman is buying what he needs off the island,'' he said.

The last day for business will likely be October 29.

The limited liability company, with six shareholders, tried unsuccessfully to sell the business.

Four Winds Fishing Tackle was started in the early 1980s and has been at its present St. John's Road location for about five years.

Mr. Jones, who has been in the fishing tackle business for 20 years and with Four Winds for the last five years, said he will continue to operate his marine trade business.

Only one person lost her job because of the closure of Four Winds, he added, but she has found other employment.

"We decided to go through the summer and pay off everything.

Everything is up to date,'' he said. "All our creditors are paid in full.'' There is only about $4,000 outstanding and Mr. Jones said all accounts will be settled. There will, not be any return on initial investment by shareholders.