April 4, 2012
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City Markets pension plan ‘unable to pay $11m’ owed
The City Markets employee pension fund was unable to pay the $11 million owed to beneficiaries as at end-June 2009 “because of lack of liquidity”, a forensic accounting report has alleged.
PM meets workers amid City Markets protests
THE REPRESENTATIVES for former City Markets employees yesterday again met with the Prime Minister in an effort to resolve their struggle to obtain due severance pay and benefits issues from their former employer.
City Markets staff ‘reject’ partial $1.4m payout offer
FORMER City Markets employees have “outright” rejected a $1.4 million severance pay offer, a group spokesman said yesterday, telling Tribune Business their attorneys plan to challenge a debenture which effectively makes the Finlayson family-owned majority shareholder the primary creditor.
Ex-City Markets workers 'losing faith' in courts
Former employees of the now-defunct City Market supermarket chain have “lost faith” in the legal system, a spokesman for the group said yesterday, telling Tribune Business that 80 per cent had still “not received a dime”.
Employees reject 20% City Markets severance offer?
A FREEPORT-based attorney said yesterday he may seek the Supreme Court’s assistance in the disbursement of monies owed to former City Markets employees, amid suggestions that staff had rejected an offer to receive 20 per cent of the severance pay due to them.
$2m verdict for City Markets management
AS Super Value moves ahead with its takeover of three former City Markets locations, employees of the former food retailer are still anxiously awaiting their severance packages, an executive telling Tribune Business yesterday: "The severance packages should be automatic under the laws of the Bahamas."
City Market workers want answers on severance pay
CITY Market employees are demanding to be told when their severance packages will be paid after a group of them were turned away from the company's main office.
Shelves cleared in shopping frenzy at City Markets
AMID reports that the struggling five-store supermarket chain will close or agree to sell, hundreds of shoppers flocked to City Market locations for a cash only, al
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