Fusion misses payroll due to COVID-19 fallout

Fusion misses payroll due to COVID-19 fallout
Fusion Superplex. (FILE PHOTO)
NASSAU, BAHAMAS – The global COVID-19 fallout has compounded economic woes at Fusion Superplex as the entertainment complex is reportedly unable to pay furloughed employees for the last pay period.In a letter to workers, CEO Carlos Foulkes explained the company was expecting a past due payment that would have satisfied payroll requirements and maintenance during the closure.

Foulkes told Eyewitness News last week that close to 400 workers have been asked to take unpaid leave due to the nationwide shutdown to prevent local spread of the virus.

Fusion’s line staff are paid bi-weekly, and its managers are paid monthly.

In his letter yesterday, Foulkes said the company was advised on Wednesday afternoon that its partners had suspended the payment process due to “global events”.

“As a result of this warning with such short notice, until this afternoon we were unaware that we would not be able to satisfy payroll,” Foulkes said.

“Despite the current circumstances, please know that all funds owed to you will be paid, as soon as it is possible to do so. I humbly request your patience and forbearance as we seek to correct this problem in the coming weeks.

He continued: “This impact is experienced by all employees of all levels and the shareholders who are now seeking to help with this matter personally.

Foulkes explained the pandemic has been devastating for the startup, which did not have the “financial reserves” of longstanding companies.

“As I have advised you in the past, we do not have the privilege of local banking assistance; therefore, we cannot call on local institutions in times of need,” he said.

“We are required to create funding from revenue and other external sources. This factor alone makes us ver vulnerable during catastrophic events like the COVID-19 pandemic.”

The company has not set a date for reopening yet; however, Foulkes underscored their commitment to maintaining staffing levels.

“We sincerely regret these conditions and wish to assure you that your employment is guaranteed on our return to business.”