News for the Hospitality Executive |
Caribbean News Agency, Barbados, West Indies
Knight Ridder/Tribune Business News Aug. 11--CASTRIES, St. Lucia -- Two more St. Lucian companies closed over the weekend putting more than 500 workers out of jobs. B and D Construction Limited, one of the largest construction companies
on the island and the 62-room Orange Grove Hotel announced they were ceasing
operations immediately because of a downturn in business.
But the Bank's efforts to restore the hotel to a situation of profitability were unsuccessful. Receivership Manager Norman Francis said: "Unfortunately my principals have been forced to take the decision to bring an end to the operations of the Orange Grove at this time." Last month, two hotels operated by the international chain Rex Resorts of Britain were closed putting more than 300 persons out of work. The hotels reported a drop in business caused by both international and local economic conditions, and say they will reopen in December in time for the more lucrative winter traffic. -----To see more of the Caribbean News Agency, or to subscribe, go to http://www.cananews.com (c) 2001, Caribbean News Agency. Distributed by Knight Ridder/Tribune Business News. |