has filed a suit against eight members of the cooperative's executive committee.

The supermarket closed last week at its Union Street location after 17 years in operation as it was unable to continue paying back its $500,000 in debts.

Mr. Issac was appointed in April last year by the cooperative.

He went on to develop a rescue plan for the ailing supermarket and by June this year announced to a meeting of creditors that 32 of the 63 creditors had been paid off. However, in the midst of the supermarkets' revival, Mr. Isaac suddenly left his job without any explanation. Attempts to contact him were unsuccessful.

Cooperative president Victor Fishington, Chris Furbert, Carlton Johnson, June Augustus, Clarence Smith, Anne Webb, Edward Caldabras, and George Scott were named in the suit filed at Supreme Court.

No amount claimed for damages was given. A story in the latest issue of the Bermuda Industrial Union newsletter, The Workers Voice, stated that at a meeting last week the cooperative's executive told shareholders they were looking into the possibilty of obtaining a financial bailout by "anonymous financiers''.

"The shareholders were told that the store was getting deeper and deeper into debt and that it made no sense continuing under the current condition,'' The Workers Voice stated. "It was felt that a lack of customer patronage coupled with a few bad business decisions were the main culprits of the Co-Op's demise.'' The newsletter stated that the committee met with "financiers'' on October 22 and then made the decision to close that day.

BUSINESS BUC