January 9, 2019
The Taylor Industries building on Shirley Street.
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Kelly's Home Centre leads the Bahamian unsecured creditors who will receive nothing of the debts owed to them by Taylor Industries, its liquidator has revealed.
I guess I bought my first light-bulb over 30 years ago in the friendly store facing Shirley Street’s busy traffic flow. Convenient, with easy parking and never crowded, it continued to meet my occasional electrical needs, a local retail icon I never thought about— and which never changed.
Taylor Industries is insolvent by $1m after racking up a combined $1.856m in losses during the four-and-a-half years prior to its January 8 closure, it has been revealed.
Former staff yesterday described Taylor Industries slide towards closure as “the most stressful thing we’ve been through”, adding: “The customers knew more about it than us.”
Taylor Industries’ principals say three years of losses, combined with a harsh economic climate featuring escalating cost and tax hikes, gave them no choice but to close and lay-off 40 staff.
Taylor Industries, the 74 year-old electrical retailer and contractor, was yesterday said to have ceased operating with its sole location completely locked down.