Sale Price For Jolly Beach Resort Still Being Negotiated

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Cabinet Notes: The Receiver/Liquidator of the Jolly Beach Hotel was invited to Cabinet to provide an update on the plans for that property and the Government’s valued claim as creditor, owed more than $80 million dollars by the bankrupt hotel.

 

There is a serious buyer for the hotel, but the exact selling price has not been determined; the two parties are in negotiation, and the Chairman of Cabinet called the potential buyer’s lawyer during the meeting in order to determine how soon a final offer for purchase will be settled and agreed.

 

The 484 staff of the Jolly Beach Hotel have been on lay-off and are to be severed; their severance pay will come from the sale, but they are likely to be offered a reduced amount, given the state of the negotiations, the liquidator remarked.

 

The union is to meet with staff of the Jolly Beach on Friday morning.

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2 COMMENTS

  1. Severed at a reduced rate?? They need to be severed at full this is bullshit!! Union just deducting people money for poor representation.

    What’s happening with the Carlisle Bay staff and when are they getting the percentage of their thrift fund that they signed for since over a week ago? School opening people have school fees, supplies and bills to pay.

  2. What is the name of the Receiver/Liquidator of Jolly Beach Hotel.The Cabinet Notes for whatever the reasons.Do not divulged pertinent information to the Public.They always tried to feed us from a sippy cup.Give us all of the damn information.Most of us in my opinion could compartmentalized it.

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