February 16, 2021
THE MELIA NASSAU BEACH
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A BISX-listed bank has revealed that a major Nassau-based resort’s decision to close for two years has placed more than $5m worth of outstanding loans in potential default.
A TRADE union leader last night threatened two Bahamian resorts with legal action for “unfair termination” and other alleged breaches of the Employment Act’s redundancy and re-hiring provisions.
Baha Mar will cut its losses by closing the Melia Nassau Beach property until 2023 for a $100m renovation, its president revealed yesterday, resulting in up to 300 hotel job losses.