The Sliema outlet of Nicholsons Supermarket has reopened after closing for two weeks to fully re-stock its shelves, ending speculation that it would remain closed.
Nicholsons is implementing a new business plan, under the guidance of financial adviser Francis Vassallo, to revive the supermarket chain which owes trade creditors Lm1.2 million.
"As promised, the Ciantar family is sticking to its commitments. Suppliers are still questioning the company`s credibility and it has to earn their trust through actions not words," Mr Vassallo said when contacted.
"Since the Sliema outlet opened on Monday, the clients have started to come back and business is better than it was when we re-stocked the shelves just before Christmas," he said.
Stocks in Sliema had diminished in the past couple of months and the outlet had been working with skeleton staff. It has now recruited new staff.
However, the outlet still cannot stand on its own feet completely unless one company withdraws its garnishee order.
Mr Vassallo had said during a meeting for trade creditors last month that the business plan could not be implemented unless all the garnishee orders were lifted.
In all, 13 injunctions had been filed for a garnishee order, but 12 companies have since shown a sign of goodwill and faith in the business and agreed to withdraw the orders.
Unless all garnishee orders are withdrawn, shoppers cannot use plastic money to pay for their groceries since all payments made by plastic cards will go straight into a bank account being used to repay the debt.
However, Mr Vassallo said yesterday he was confident that there was goodwill from this company`s side and an amicable solution would eventually be found.
In the meantime, Nicholsons has also reached major agreements with the bank which has been extremely cooperative.
During April`s meeting the creditors had formed a committee to review the plan regularly and keep track of the results. This committee has already met and is expected to meet again shortly.
According to the business projection the debt will be paid over a three-to-five-year period.