By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Furious Solomon’s Mines employees yesterday said they were “hoping and praying” to receive up to five months’ worth of due salary payments, after the luxury goods retailer permanently closed its doors.
Staff expressed anger and disappointment towards the retailer’s owners, the Finlayson family, after being told yesterday afternoon that the business was shutting down.
Tribune Business was told the closure will affect close to 30 persons, although that number could not be confirmed.
Former employees, who stood outside the retailer’s flagship Bay Street store and spoke to Tribune Business yesterday afternoon, claimed they had not been paid for between three to five months, and expressed anger at the business’s abrupt closure.
Jill Mortimer, a 13-year Solomon’s Mines employee, told Tribune Business that the Bay Street outlet opened as usual yesterday morning. But in the afternoon, staff were informed that the luxury goods retailer would be shutting down permanently.
“We didn’t know that they were going to close like that,” she said. “Everything was secretive. We had to hear from outsiders it was going to close, but we didn’t know when. We have had a lot of issues getting paid in the past few months. We haven’t been paid in five months.”
Another employee added:
“They haven’t said anything much about us getting paid. Right now I’m just waiting and praying. We haven’t gotten paid in five months. I’m just praying to God that we get justice.”
Another employee, who spoke on condition of anonymity, told Tribune Business: “I have been working with the company for 15 years. I was at Paradise Island but they closed that store and put everyone on Bay Street.
“We had been hearing rumours that they were going to close. December they said they were going to close on the 31, but they didn’t. We weren’t getting any pay. We haven’t been paid from February 28 up to today. Even if they didn’t give us our severance pay, they could have given us all of our back pay, which is almost three months.
“They only gave us a cheque which is not half of what we work for, but 12 per cent, and we’re supposed to get all of our back pay. That is bad. You try to ask questions but you’re not getting the right answers. They just give us the cheque with no dismissal letter to say they are closed. Right now I’m backed up with my rent; this is going to make four months. What they have given me can’t even pay all my rent. That’s bad. We’re being treated unfairly and that’s wrong.”
Tribune Business attempted to contact Mark Finlayson, son of Sir Garet ‘Tiger’ Finlayson, for comment. However, he did not respond to e-mails seeking comment, and no messages could be left on his cell phone.
It has been apparent, though, that Solomon’s Mines has been in financial difficulties for some time, and the once-proud luxury goods retail chain’s demise will come as little surprise.
Tribune Business has even received e-mails from purported suppliers complaining about their dealings with the company, with Solomon’s Mines’ electricity and phones having been turned off on several occasions.
Mark Finlayson told Tribune Business last September that the family was talking to several parties about selling the company, but declined to go into detail or identify them. It appears, though, that Bay Street rivals decided the chain was not worth acquiring, instead leaving it to its fate.
Solomon’s Mines, like many businesses has been hit hard by the recession, and shrunk its retail store numbers considerably since being acquired by the present Finlayson family ownership in 2004-2005.
The luxury retail market remains crowded and highly competitive, with rivals such as John Bull and Diamonds International also prominent on Bay Street.
The Finlayson family acquired Solomon’s Mines, previously a division of Solomon Brothers, from that group and its principal, Martin Solomon.
Under the Solomon’s Mines name, the group was last year operating five stores split between Paradise Island, Bay Street and another in Palmdale.
Comments
watcher 9 years, 7 months ago
I'm half-serious when saying that the time has come to have a public inquiry if ever Mr Finlayson announces in the future that he intends to take over any business. This will hopefully give employees notice that they have xx number of months to find new employment opportunities.
Regardless 9 years, 7 months ago
.....and a knighthood was bestowed for contribution to business development.
Islandgirl 9 years, 7 months ago
How did they make their money in the first place? I am curious. They are worth millions and seemingly are unable to run even a tuck shop at a profit. One has to wonder.
DonAnthony 9 years, 7 months ago
Alchemy is a medieval phenomenon whose practitioners claimed that they could transform lead into Gold. The finlaysons in business have perfected just the opposite, the art of turning gold into lead.
TheMadHatter 9 years, 7 months ago
Wonder how many managers they have fired over the past 5 years, who have DARED to suggest doing anything differently than the way THEY said it should be done?
Just wondering. That may not be the case here.
It is unfortunate, but too often times people with plenty of money think they know everything such as how to change the spark plugs in a diesel engine - just because they have money.
TheMadHatter
sndyboi69 9 years, 7 months ago
i guess when employees see the finlaysons taking over a business they must start looking for a new job, they have screwed up all the good businesses in the bahamas its a real shame
ObserverOfChaos 9 years, 7 months ago
So, who's stupid enough to continue working for a company after 2-3 months without pay? Did ya really think you were magically going to get monies after that first missed payment? Only one you can blame is yourself!
Stapedius 9 years, 7 months ago
I agree that they shouldn't have stayed on. But there is no excuse for the behavior of management or the owners. They are disgusting people.
Stapedius 9 years, 7 months ago
Messy Mark strikes again. These people need to brought before the courts. Once again they've found a way to shaft their employees. The City Markets folks went through the same nonsense. It is unbelievable that they are continuously being allowed to violate the rights of workers throughout this country. 3-5 months without pay is ridiculous. They should be ashamed of themselves. But I guarantee you this joker will make some bs excuse in a few days. Don't worry folks. All good things come to and end. Their luck soon run out.
ThisIsOurs 9 years, 7 months ago
Should never have been allowed to purchase city market. I recall clearly the day the sale was announced, everybody in the office said, "oh no!"
Stapedius 9 years, 7 months ago
They have no conscience. The family behaves like locusts. Feed and then leave behind the carcass.
pablojay 9 years, 7 months ago
You must remember that times are tough and although the workers stayed on without pay , they still had a job and you probably would have done the same thing , HOPING TO GET PAID. These are not the days when one could have left a job and get another next week. I always say anytime an astute businessman sells a business ,especially to someone whose ego makes them believe they can make it more profitable ,WATCH OUT ! Mark Finlayson has a law degree, i often wonder what kind of lawyer he would be .He probably would be a very successful, if not a good one, especially with his boys in charge of the country and the character he has shown in his dealings with his employees.
concernedcitizen 9 years, 7 months ago
The only time the Finlayson made any money was when Tiger got shares for him and Ping as the cost of doing business for a foreign firm here ,or they got their hands on the employees pension,,City markets ,ABC motors ..
Well_mudda_take_sic 9 years, 7 months ago
The way the Finlayson family has run this once highly profitable business and so many others like it right into the ground is the same way that Perry "Vomit" Christie is running our entire country into the ground. The Finalysons are only able to succeed in business where they have political protection from competition and unethical conduct. It takes good business sense, hard work and ethics to run a legitimate enterprise of any kind in a competitive environment and the same applies to the running of our nation. Christie, like the Finlaysons, sorely lacks these fundamental qualities which explains why the financial health and well-being of our nation continues its downward spiral. If Cuba's doors were open right now to U.S. tourists and U.S. businessman, Christie and his select few political friends and business cronies would not be able to cope with the competition and would instead be gravitating towards additional corrupt or illicit activities of one kind or another.
duppyVAT 9 years, 7 months ago
Will Perry buyout Solomon's Mines with Public Treasury money to protect Bahamian jobs????? He has bought out BOB $100 million bad loans for many PLP loyalists............ surely he will help out a PLP of the highest order like Tiger?????????
Sickened 9 years, 7 months ago
I'm sure he's thinking long and hard about it!
SP 9 years, 7 months ago
.................................. You People Must Really Love Punishment! .....................................
Firstly, if you weren't paid for more than 2 weeks it was time then to seek assistance from the labour board and stop working.......Waiting around 5 Months without pay is just plain stupid.
Secondly, who in their right minds would work for the Finlayson's anyway?
Sickened 9 years, 7 months ago
There are many, many desperate people in The Bahamas looking for any sort of income. There simply are no jobs available. Things are really bad here and these people were hoping that the Finlayson's would be ethical and pay for work done.
Hogfish 9 years, 7 months ago
everyone knew this day was coming.
the name Finlayson is synonomous with greed, stink and corruption.
Sign in to comment
OpenID