City Market ‘Cut Off’ Due To Non-Payment

A leading wholesaler said most Bahamas-based suppliers had cut City Markets off “six to seven weeks” ago for failing to pay its regular monthly account, conceding that “everyone” in the industry was worried about recovering the collective multi-million dollar debt it owed to them.

Bruce Thompson, managing director of Thompson Trading, the Nassau-based agent for brands such as Pepsi-Cola, Nestle, Colgate and Quaker, confirmed to Tribune Business that some wholesalers had begun the process of taking City Markets to court to recover sums allegedly due to them.

Responding to comments by City Markets’ principal Mark Finlayson, who in an interview with Tribune Business warned Bahamian wholesalers to work with the supermarket chain or else face the prospect of writing-off 100 per cent of what was due to them, Mr Thompson accused him of seeking to blame the industry for the company’s woes.