Aug. 15, 2014
PJN wearing President Jkt
-- Recent media reports regarding efforts to re-build Nygard Cay have not been presented accurately. Peter Nygard has been a champion of the Bahamas and specifically the preservation of Simms Point and Jaws Beach for more than 30 years. Peter Nygard fully supports protecting the environment of the Bahamas. It is the natural beauty of the Island which led him to choose this country for his home.
The documents related to construction activities at Nygard Cay clearly show permission to build on government land and the promise by the government of a lease of that property was obtained in a letter from the Lands and Survey Director Mr. Garraway. Peter Nygard simply wants to re-build and restore his home following a devastating fire in 2009 that left 70% of the home in ruins.
Peter Nygård’s success story began when he gathered his life savings and borrowed $8,000 capital to purchase 20% of a women’s garment manufacturer with $800,000 in annual sales, which within a few years he owned outright - renaming it 'NYGÅRD' & turning it around from near bankruptcy into the bustling dynasty that it is today! The speed with which Nygård claimed his #1 position in the industry is attributed to the uniqueness of his business decisions and his work ethic that includes 14-16 hour days/seven days a week. But then again, as Nygård says, "The only time you are working is when you wish you were doing something else".