Write-off at City Markets 83-84m

Mon, Nov 29th 2010, 10:00 PM

By NEIL HARTNELL

Tribune Business Editor

City Markets' former owners wrote-off a staggering $83-$84 million as a result of their failed investment in the 11-store supermarket chain, its new majority owner confirmed to Tribune Business yesterday, adding that it had hired a Bahamian forensic accountant to determine "just how deep this hole is" in the company's financials,

Quickly adding that he expected accountant John Bain to find nothing untoward, given that BSL Holdings' controlling shareholder, Neal & Massy, had been "straightforward and honest" in the sale negotiations, Mark Finlayson, principal of Trans-Island Traders, told this newspaper that his faith ha ...

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