Bermuda’s economy continues to struggle as one local retailer closes its doors and another is embroiled in legal action.Arnold’s Tile & Building Supplies Limited closed its doors on December 31 and the landlord of the iStore is petitioning to wind up the shop to collect on back rent.After close to 30 years in the business, Arnold’s Tile closed due to the struggling economy and four staff members were let go as a result.“It was strictly due to economics, we just had no business,” said Colin Hassell, the store’s general manager. “It’s not something we wanted to do, we were doing everything we could. Another institution down the drain.”Arnold’s Tile, located on Mill Reach Lane in Pembroke, offered a wide selection of tiling products as well as commercial and residential building supplies, priding itself on being “one of the Island’s most respected and trustworthy companies”.The company recently redesigned its multi-level showroom on Mill Reach Lane, Pembroke, however, the building was owned by Bermuda Forwarders.Joanne MacPhee, executive vice president of the Chamber of Commerce said its closing was an economic reality for many retailers.“In better times it might well have been possible for a company such as Arnold’s Tile to sell or merge their going concern with another vendor, but in the current recessionary climate such opportunities are few and far between,” she said.“Leaving them no recourse but to cut their losses and close completely. It is sadly a true reflection of our current economic position.”According to a legal notice published in yesterday’s Royal Gazette, the landlords of computer and electrics shop, iStore, are petitioning to have the store wound up.A Supreme Court hearing on the matter is set for January 20.Winding up includes the dissolution of all legal and financial affairs of the business, however its corporate existence continues for the limited purpose of paying, settling, and collecting debts.The iStore, known for selling and servicing Apple computer products, is currently not listed on Apple’s site as an authorised reseller or service provider of Apple products.The international computer giant would not comment on the delisting when this paper contacted them about the matter.Both Wakefield Quin, the lawyers on the case, and Pittstown Developments declined to comment on the matter. iStore owner, Richard Todd, could not be reached as of press time.“Despite what some would have you believe, companies are being impacted as harshly as individuals during this economic crisis and we all have bills to pay,” said Ms MacPhee. “When we fail to meet our obligations for whatever reasons there are consequences.“We need to be frank about this and deal with the situation as honestly and openly as possible.“The Chamber is always concerned when local commerce is negatively impacted, whether the firms involved are members or not; because we are all in this economy together.”