In an alarming incident, a fire broke out in a lumber yard on Iznart Street in Iloilo City, quickly escalating into a major disaster. The conflagration ignited around midday and continued for nearly half a day, engulfing nearby buildings and infrastructure in its wake. With strong winds aiding the fire's spread, local firefighters faced significant challenges in their efforts to control the blaze. The response teams struggled with limited resources and the existing conditions, ultimately leading to widespread destruction across three-quarters of the City Proper area. The fire's intensity raised urgent concerns among the residents and local authorities regarding public safety protocols and emergency responses.

The economic ramifications of the fire were profound, as estimates placed the total damage at around Php 50 million, severely affecting local commerce and the livelihood of countless residents. Many small business owners found themselves without a place to operate, leading to significant socio-economic challenges. The event prompted a reevaluation of fire safety regulations in Iloilo City, as officials recognized the need for improved facilities and resources to mitigate the risks of such occurrences in the future. The event also galvanized community responses, with residents coming together to support those who had been impacted.

In the wake of the disaster, reconstruction efforts were initiated, and discussions were held on how to prevent similar tragedies in the future. This led to the implementation of stricter building codes and regulations aimed at maintaining public safety. The tragedy also served as a reminder of the vulnerability of urban areas to such disasters, prompting greater awareness and preparedness within the community.