Over $510,000 has been generated from the auctioning of the inventory of the Buccament Bay resort. This was disclosed by the Minister of Finance Hon. Camillo Gonsalves.
“The Government of St. Vincent and the Grenadines was instrumental in facilitating a series of agreements and transactions that led to the property housing the former Buccament Bay resort being purchased by Sandals resorts International. As part of the process the Government purchased the former resort from the bankruptcy trustee of Harlequinn property SVG LTD and re-conveyed it to Sandals Resort International, however, while the Government purchased the property from the Bankruptcy trustee inclusive of all the inventory on the site, it sold only the property and not the inventory to Sandals. As a result, the Government is currently disposing of the former Buccament Bay resort inventory by auction and by sale. While the disposal of the inventory is not yet complete, over $510,000 has been realized through auction sale to date, with additional inventory to be sold this coming weekend.” Minister Gonsalves said.
The money made from the auctions is expected to be divided among the workers that were employed at the resort at the time of its closing.
