Barbados not prepared to bail out Almond Resorts

(Barbados Nation) 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]  . . . ; Bds$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.

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