This archive report was first published on 20 October 2019.
Published on October 20, 2019, multinational flower firm Finlays announced plans to close its two farms by December 25, citing increasing costs of doing business.
The decision was reached by the directors, who stated that rose prices are dwindling due to oversupply in the European market and decreasing demand.
Additionally, unfavourable weather conditions, high labour costs, and weakening exchange rates have also contributed to the closure of the farms.
According to a statement dated October 18, the directors said, "It is no secret that in the last 18 months, the flower industry has been facing severe challenges... As a result, the directors have made the decision to close Chemirei and Tarakwet farms earlier than initially communicated. The final closure date will now be December 25."
