The BBC has reported (although I have edited):

The billionaire Barclay brothers are closing businesses in Sark, with the loss of about 100 jobs - a sixth of the Channel Island's population. The 73-year-old Barclay twins, who own the Telegraph Group, own the neighbouring island of Brecqhou. The jobs are in hotels, shops, estate agents, restaurants and building firms.

Sir David and Sir Frederick want radical electoral reforms on Sark and object to the hereditary posts of seigneur and seneschal remaining. Sark's first election to choose a democratic government for nearly 450 years was held on Wednesday. Preliminary results released earlier by the Returning Officer on Sark showed that only five of the 28 candidates who received the most votes were pro-reform.

Advocate Gordon Dawes, who represents the Barclays, said that he was not entirely surprised that some Barclay-owned interests had been closed down on Sark.

"The people of Sark are reaping what they sowed the day before," he said. "They only have themselves to blame. They could have co-operated with Barclays Investment but they chose to obstruct it.

Now Sark (lovely place that it is, and I have been there, having something of an enthusiasm for small islands quite distinct from tax) is not a place with which I usually have much sympathy, but I do on this issue.

The line that the people of Sark has taken is brave, and quite of character with past decision in the Channel Islands, from which they have perhaps learned. The reality is that the commercial interests in these places (bankers, lawyers and accountants in Jersey and Guernsey) have, in effect occupied them and hold the local people to ransom. The message is simple: do as we want or we'll go, and go of course they could and would because they have no loyalty to the location at all.

That's clearly what the Barclay's are doing. they are saying their cash counts and local democracy and opinion does not.

It's exactly the same model that is contemptuous of ordinary people, their needs and desires, their communities and their futures, all for the sake of short term profit.

It is a business model that is destroying these places.

Good for Sark for holding out. Good luck to them to. It will not be easy.