10 OCTOBER 2001

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Nicholson’s may face a take-over

The Nicholson’s Supermarket continues to face difficulties, at Sliema, Attard and Fgura the Nicholson’s chain is losing it’s battle to stay alive. It now appears it will follow the Price Club footsteps and is encouraging a takeover.

The main concern with the Nicholson’s chain of Supermarket is that the property of the chain is rented, unlike the Price club which owns all the property at its Supermarkets.

Problems regarding the Nicholsons Supermarket Chain have been evolving for a long time and it is believed that workers who left the Supermarket Chain have not been replaced.

Sources told The Malta Financial and Business Times that the owners of Nicholsons have requested their creditors to give them more time. But most of the creditors are adamant that Nicholsons should pay up in the near future as people are not buying from the chain.

At all the three Nicholsons Supermarkets there are many empty shelves and the company is now paying everything in cash, as some of the creditors are not accepting credit.

The Directors of Nicholsons Supermarket seem to have set their targets. They are to keep the Chain of Supermarkets alive, to safeguard the jobs and to come to terms with the creditors.

The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt