A company that has played a significant part in arranging tourism events, conference events and excursions in Bermuda for the past 40 years has suspended all operations and issued a statement suggesting it will not return.

With the peak tourist season just beginning, the company behind the Hawkins Island 'Don't Stop The Carnival' theme parties, tours and events and glass-bottom boat excursions on the 68ft Reef Explorer from Hamilton has pulled the plug on its operations.

The BIC Group of Companies has even de-activated its web-site, which now exists only as a one-page site featuring the four-paragraph statement that the company had suspended all activities as of noon on Monday.

The group comprises of Bermuda Island Cruises and Bermuda Incentives and Conventions and is headed by CEO Kyle Messick.

"BIC Group has suspended operations, subject to a review (in process) by PricewaterhouseCoopers regarding the ability of the business to continue trading," said Ms Messick.

"No one factor is responsible for the closure of the BIC Group — there are many — and no individual, organisation, government, competition, management, employee or industry trend can be held solely responsible.

"It is always a combination of factors that lead to business closures and attempting to assign blame is neither productive nor helpful."

Some of those factors have been identified by Bermudian entertainer Tony Brannon, who ended his 15-year association with the company when he resigned earlier this year shortly after becoming embroiled in controversy over comments he made about the state of tourism in Bermuda.

He was heavily involved in the Hawkins Island venture and spent $75,000 of his own money last year upgrading some of the facilities.

One element of the BIC Group's business was providing conference group facilities, but this has been diminishing as hotel operators have captured more of that market and effectively shunned BIC out of the picture, said Mr. Brannon.

The operating costs, such as renting Hawkins Island, coupled with the peak summer season of only a couple of months when revenue can be generated from events kept the enterprise under pressure, particularly when the weather was unfavourable.

Mr. Brannon added: "From my experience when I was with BIC, the Government and Premier were less than friendly and less than helpful."

He said the economic environment for tourism has remained unchanged for eight years, the promise of new hotels is still up to five years away and the lack of a tax-free arts zone for Bermuda cut into the profitability of company's like BIC.

"The bottom line is it's a tough market. BIC got no tax breaks for renovating Hawkins Island. Government has not addressed the Stuart Hayward (musicians) report," said Mr. Brannon.

"It is a sad day. BIC employed around 30 or 40 Bermudians who enjoyed the summer hustle on Hawkins Island — and it was 100 percent Bermudians. BIC going out of business means the cruise ships have one less place to send tourists to, one less glass-bottom boat to go to. I feel for everyone involved in BIC."

In her statement, BIC CEO Ms Messick said: "For a period in excess of four decades the BIC Group of Companies has been part of Bermuda's tourism industry and been a witness to the sweeping waves of change that have transformed the industry from its base in the 1960s.

"During that time, we have been privileged to work with a host of dedicated individuals and organisations and we want to thank each and every one of them for the hard work, dedication and loyalty they have demonstrated. It is with profound regret that we now leave the stage to them to continue that good work."

The company was started brothers Derek and Donald Morris. Derek Morris declined to comment yesterday.

Premier and Tourism Minister Dr. Ewart Brown's press secretary Glenn Jones, said: "The Premier is aware of the BIC developments. We regret this group has departed from the tourism scene. However, we believe there are young Bermudians who will come to the stage and more than compensate for this absence."