26.3 C
St John's
Saturday, September 25, 2021
HomeBusinessCaribbean Development (Antigua) Ltd, Jolly Harbour SOLD

Caribbean Development (Antigua) Ltd, Jolly Harbour SOLD

Employees today will begin receiving severance payment as a result of the sale of Caribbean Development (Antigua) Ltd Jolly Harbour.

Management of company advised employees that the entire shareholding of the company was sold to a third party via a memo dated 16th July 2021. 

In the memo to its employees, the company gave employees the option to be severed for their years of service or to continue to work with the new owners under their present terms and conditions of employment without loss of benefit.  

Employees were given up until 4 pm on the 27th July to express their preference. Employees have since met with their Bargaining Agents, Antigua and Barbuda Workers’ Union to verify their Severance amounts due.

It is not yet known who the buyers are. The property that was once in receivership and managed by La Perla Living, was built by Dr Albert Erhart who purchased and transformed what was then swamplands into a Marina providing jobs for hundreds of Antiguans at the time of construction.

Jolly Harbour was also a buzz of activities in the past for Sailing Week Activities and Sweet Cry Concert. 

Several employees  had expressed the eagerness to be severed which was to take place at the end of August to allow for a smooth transition, However due to some set back the severance was not forthcoming at that time.     


Please enter your comment!
Please enter your name here

Most Popular

Recent Comments