In reference to the 15 September editorial Way Divi was closed is despicable: This is tragedy for both the Brac and the investors who own Divi.
However, I can’t see where you mention the plight of the owners.
How much money they have lost, or will lose? Was the rollover policy the last nail in the coffin? Did they lose, or expect to lose, key managers? Were high costs a factor?
Everybody should understand that there will be consequences when government attacks business The rollover plan plus myriad fees and regulations all place huge costs on business
If a business can no longer meet its costs, it will downsize or shut down. No one should be shocked when this happens.
Divi is an international company. It operates hotels in other countries including the Caribbean. Its investors need to make a return on their investment in a very competitive world market.
Every investor I know is reluctant to take a loss and will do everything he can to prevent it. Investors will only take a loss if they perceive that there is no way out.
In order to minimize their losses, Divi will probably try to sell the hotel. If it is successful, their losses will be the new owner’s gain. Whether or not this happens is anyone’s guess.
Gerry Miller
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