Saturday, April 13, 2024

Trimart talks

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THERE IS A new twist to the Trimart story as more companies seek to recover monies owed.
A Starcom Network report yesterday stated that debt collection firm Creditel had also filed writs in the Supreme Court on behalf of Wibisco and General Distributors.
The report said Trimart owed those companies more than $300 000 and had six days to respond to the writs.
A Press release from the Barbados Chamber of Commerce & Industry stated they, in collaboration with the Barbados Egg & Poultry Producers Association, the Small Business Association, and the Barbados Agricultural Society would be inviting all creditors of Trimart Supermarkets to attend a meeting at the Lloyd Erskine Sandiford Centre, Two Mile Hill, St Michael, on September 17 from 10 a.m. to noon.
The statement said the four entities were keen to engage in dialogue to look at the best way forward for Trimart.
“We are encouraging all creditors to assist each other in this matter and to this end we are facilitating this meeting to look holistically at the situation and to come up with positive solutions,” it read.
On August 27, the Haggatt Hall and Bridge Street branches of Trimart were closed by bailiffs acting on behalf of landlord NSR Limited.
At that time, a Press release from PricewaterhouseCoopers partner Christopher Sambrano stated “Trimart allegedly owes $1.27 million for the premises at Haggatt Hall, and a further $423 684 for the premises at Bridge Street”.
NSR Limited had been in receivership since June this year, and Christopher Sambrano and Craig Waterman, partners with Pricewaterhouse Coopers, are the joint receivers.
On August 31, Trimart, through its attorney Anthony Audain, filed with the Supervisor of Insolvency a notice of intention to make a proposal to creditors NSR Limited.
Trimart’s lawyers reminded the receivers that as a result of their (Trimart’s) latest action, no creditor had any remedy against the supermarket.
“In accordance with Section 41 of the Bankruptcy and Insolvency Act, all proceedings against Trimart Incorporated are stayed and no creditor has any remedy against the insolvent person or the insolvent person’s property, or shall commence or continue any action, execution or other proceedings,” Audain had said. (CA/PR)

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