foreign currency leaving the Island, its organisers have claimed.

Co-organiser Mrs. Vivian Smatt said the four-day sale at BAA Gym, which starts today, would help the Island's economy, not harm it.

Mrs. Smatt felt the need to speak out following an article in Tuesday's Royal Gazette which suggested cut-price sales like hers could hit Bermuda's established retailers.

The sale at BAA Gym, advertised as a "pricebusters Christmas extravaganza'', will appeal mostly to shoppers who are thinking of buying abroad, said Mrs.

Smatt.

"I don't want anyone to get the impression that we are hurting Bermuda's retailers because we are one,'' said Mrs. Smatt.

She and her husband, William, operate an all-year round retail business at a warehouse at Mill Creek, Pembroke.

"I'm sure our sale is going to affect retailers to some extent but not to the extent maybe some are forecasting,'' said Mrs. Smatt.

There was considerable evidence that people who are expected to buy many of the larger items at the sale -- which include fridges, freezers, televisions and bicycles -- would otherwise have gone abroad to purchase them.

"Anyone looking for bargains goes overseas rather than Front Street,'' said Mrs. Smatt.

"Our sale saves people the trouble of having to go to the US and tow the products back.''