In the 1980s, the Pier was no longer making money and its 100-year-old structure was in need of serious repair. In 1983 the Pier Company, who had owned it since 1872, sold it to Hamberglow Ltd, a company formed by two of the Pier’s largest concessionaires. The new owners discontinued the yearly inspections of the Pier’s substructure as they struggled to make the Pier a going concern. The pier was damaged in the 1987 hurricane, and in 1989 the owners announced that they had been in the red for the two previous years.
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