By Admin. Updated 4:22 p.m., Thursday, January 12, 2023, Atlantic Standard Time (GMT-4).
A company that announced an end to its 23-year operations on Mustique leaving nearly 100 workers jobless has apologized to this country’s government.
The apology issued today (January 12) stems from a statement the company made in its January 3 announcement that it will be going into liquidation.
In the initial closing announcement dated January 3, 2023, and 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.”
But in a statement issued today January 12, 2023, JAD (Mustique) Ltd said that it and its Directors made certain statements, which were made in haste, at a time when the company management was facing a very difficult situation.
“We apologise to the Government and people of St. Vincent and the Grenadines for the comments made about “the political and economic climate in St. Vincent and the Grenadines”, and deeply regret any harm done. We withdraw this statement forthwith,” the company said.
“We are presently working with legal and accounting professionals in St. Vincent and the Grenadines to ensure that the business of JAD (Mustique) Ltd. is addressed in accordance with best practices within the framework of the laws of St. Vincent and the Grenadines,” the statement added.
“We are truly grateful to the Mustique Company Ltd, the Government of St. Vincent and the Grenadines and all the skilled JAD employees for all the support of JAD (Mustique) Ltd. during our years of operations on Mustique,” the company said in the January 12 statement signed by Mr. James Archibald.
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