By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A PROMINENT Bay Street jewellery retailer was yesterday tight-lipped on suggestions it is closing down with the loss of around 12 jobs.

When Tribune Business placed a call to Venetian Jewelers yesterday afternoon, the man who answered - and who did not identify himself - replied: “We are not making any statement regarding that.”

Asked again, more directly, whether the company was shutting down, he repeated: “We are not making any statement regarding that. Have a good day”. He then hung up the telephone. When Tribune Business visited the downtown Nassau store yesterday, it did not appear to be open as its shutters were down almost completely - an unusual development for such a retailer amid the traditionally peak Christmas shopping period.

Robert Farquharson, director of labour, said yesterday that he would look into the matter, telling this newspaper he had received no report that Venetian Jewelers was planning to close and lay-off staff.

Mr Farquharson told Tribune Business: “I have not received any information relative to that business closing and making anyone redundant. I will have to look into that, but I have not received any information to that effect. Companies have a statutory obligation to inform us of any redundancies and there is a substantial penalty if they fail to do so.”

Dion Foulkes, minister of labour, had been quoted in recent media reports as suggesting that further redundancies were set to come in the New Year. The lay-offs figure he quoted, 12, matches the number of positions involved at Venetian Jewelers.

Mr Foulkes could not be reached for comment last night, although he messaged Tribune Business to say he was in a Cabinet meeting.