Government is not prepared to bail out the cash-strapped Almond Resorts Inc. in light of the problems faced with the Gems Of Barbados project.
Speaking in Parliament yesterday during debate on the 2012-2013 Estimates, Minister of Tourism Richard Sealy stressed the need for a private sector-led solution to the problems facing the 600-room resort that employs more than 1 000 workers.
Sealy said Government’s involvement would only be facilitatory at this stage.
“I cannot and I will not support another Hotel & Resorts Limited [the company which ran Gems] . . . ; $275 million and 15 years later you still had to turn around and get a private sector resolution. We will not have any repeat of that situation,” he said to the tune of loud thumping on the Government side.
Read the full story in today’s DAILY NATION.
