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HOTEL CLOSES.

More than 200 empty-handed workers of Club Rockley Barbados Ltd bade farewell to that hotel, reports The Barbados Nation (July 1, 2003). The South Coast hotel saddled with a Bds$16 million debt was forced to close after the main creditor First Caribbean International Bank foreclosed on the property in an effort to secure its outstanding debt under a previous Barclays Bank loan. The hotel started in 1977 as a joint venture between Barbados Shipping & Training and other partners, the property changed hands at least twice before being acquired by its present owner, Englishman Jeff Atkinson. At the hotel the mood was somber as former employees filed onto the compound to collect their severance letters. It was far from a happy moment as they left empty-handed - no severance, no vacation pay. One employee said it was sad the way how employees were treated especially with all the secrecy surrounding the real truth about the hotel's financial standing.

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Title Annotation:Club Rockley Barbados Ltd.
Publication:Caribbean Update
Article Type:Brief Article
Geographic Code:5BARB
Date:Aug 1, 2003
Words:159
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