It is the end of the road for long-standing furniture and appliance store Standard Distribution and Sales Barbados Limited.
Trinidad and Tobago conglomerate ANSA McAL Ltd announced recently that it was selling the company here, and its immediate parent in Port of Spain, Standard Distributors Ltd, to Term Finance (Trinidad & Tobago) Ltd, an entity also from the twin-island republic.
The terms of the deal, including price, were not disclosed.
With the transaction expected to close “on or about December 31, subject to customary closing conditions”, it not only signals Standard’s end in Barbados as a retailer after about 66 years, but the continued rapid expansion of Term Finance, which in the past two years acquired consumer lenders FastCash and Axcel Finance.
The joint announcement by ANSA McAL and Term Finance management stated that the imminent new owner would “evolve Standard’s operations into Standard Credit, a new credit and e-commerce platform that leverages the company’s eight decades of hire purchase expertise to deliver best-in-class credit products across Trinidad and Tobago and Barbados”.
They also explained that “although Standard’s retail operations officially closed on November 1, 2025, existing service obligations and hire purchase agreements will continue under the new ownership. Customers can continue to make payments through existing options and access service or warranty support via www.standardtt.com”.
The DAILY NATION understands that Standard Barbados had about 30 staff members, including part-time workers, and that the employees received letters from the company, which operated a lone store at the MQI Complex in Wildey, St Michael, recently.
ANSA McAL noted in the statement detailing the deal that throughout the process, it “has remained focused on supporting the dedicated employees who have built Standard’s legacy for decades”.
The group said that “where possible, team members have been offered continued employment with Standard, or reassigned within the ANSA McAL Group of Companies.
“Others have been offered enhanced separation packages underscoring the company’s commitment to fairness and respect during this transition,” the company stated.
“All Standard employees will continue to have access to the Group’s Employee Assistance Programme, which includes well-being support services, and financial planning assistance until the end of the year, December 31, 2025.”
A virtual financial counselling session is also scheduled during next week for all Trinidad and Tobago and Barbados employees.
“To further support affected employees, ANSA McAL will host job fairs in Trinidad and Barbados in November 2025. These events will provide access to new employment opportunities, career-planning resources and professional development guidance,” it added.
Customers in Barbados were also notified via email recently about “a new chapter for Standard” and the transition to Standard Credit.
Those with hire purchase agreements were told to expect “a seamless transition and can continue making their scheduled payments through the existing options”.
Term Finance, which was founded by its current chief executive officer Oliver Sabga in Port of Spain in
2015 as a financial technology company offering loans, is owned by PointWest Capital (80.01 per cent) and First Citizens Bank (19.99 per cent). It operates in nine countries.
Nicholas Farah, chief operating officer of Term Finance Holding, said: “We are proud to carry forward the Standard legacy and to uphold the confidence that generations of customers have placed in the brand.
“Our goal is to preserve that trust while introducing new financial solutions that give customers freedom to spend wherever they get the best deals. Evolving the Standard brand to Standard Credit is our way of telling the market that Term Finance is coming to the high street!”
Standard Distributors’ managing director Nicholas Sabga stated: “Standard has been part of our group’s story for eight decades, shaping lives and homes across Trinidad and Tobago, and Barbados.
“We want to extend our heartfelt thanks to all our employees, customers and partners who have stood with us, and look forward to seeing the brand’s next evolution under new ownership.”
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