BREAKING: Company of 23 years in Mustique to close leaving many Vincentians unemployed

By Demion McTair. Updated 2:23 p.m., Friday, January 6, 2023, Atlantic Standard Time (GMT-4).

Nearly 100 Vincentian workers based on the Grenadine island of Mustique are now on the breadline as a construction company that has operated on the island for 23 years has begun the process of liquidation.

The company, in an announcement dated January 3, 2023, said: “It is with heavy hearts that we announce the dissolution and liquidation of JAD (Mustique) Ltd.”

The sudden announcement came as a surprise to many employees.

One News SVG understands that the company employed newly 100 construction workers and had an office staff of about four (4) persons.

The company said it has appointed Business Logistics Inc to oversee the liquidation process and to ensure the smoothest possible conclusion.

At 2:12 p.m. today, One News SVG called Business Logistics Inc. which confirmed that they are in charge of the process of liquidation for JAD (Mustique) Ltd.

The Mustique Company Limited also confirmed that James Archibald Designs (JAD) has in fact been operating on the Northern Grenadine island.

In its announcement signed by Chairman – James Archibald, JAD (Mustique) Ltd said: “A combination of the political and economic climate in St Vincent & The Grenadines, COVID-19 and rising costs, have all combined over the last few years to put the Company in a fragile financial position.”

“Since the outbreak of COVID-19, we have endeavoured to remain liquid, buoyant, support our workforce and deliver the level of service and quality that JAD has been known to provide.”

The company cited industrial action by its employees and historic legislation change as factors that have “destroyed” the confidence of its clients.

“Industrial Action taken by our employees as a result of a historic legislation change, despite a full settlement being offered, has destroyed any confidence our Clients had that we could complete their contracts. We have therefore not yet received payments for works completed to date, which has now put us in an irrecoverable position,” the company said.

“We sincerely apologise to anyone adversely affected. Whilst we navigate these next steps, we ask for your patience and understanding,” the company added.

“We are immensely grateful to everyone who has played a part in JAD’s 23 years on Mustique, and we wish you all the best in the future,” the statement ended.