The statement noted that after encountering financial difficulties over a period of time, things came crashing down after the Guyana Power & light Inc. disconnected power to the building.
According to the statement, steps are being taken to liquidate assets to cover the outstanding salaries owed to employees within a month. The Hotel said it has seen a decline in business despite its best efforts to keep the business open.
After GPL disconnected electricity to the building, the hotel was forced to make alternative arrangements for its guests to be accommodated elsewhere. The Hotel is reportedly in talks with a potential buyer of the Hotel as well.
Employees of the cash-strapped Hotel were on Saturday asked to wait four weeks for salaries and benefits by the hotel’s Attorney-at-Law, Peter Hugh.
However, the employees are adamant and say they will continue their protest action until they receive their money. Tomorrow they plan to protest in front of the Ministry of Labor.