Treasure Island resort goes bust
Treasure Island Hotel
(CNS Business): The future of one of Grand Cayman’s long standing resorts is in jeopardy after receivers were appointed last week to deal with Treasure Island. Restoration Cayman Ltd, the company that owns the 280-room resort on Seven Mile Beach in the heart of the tourist district, has gone into receivership in the face of serious financial problems. According to a release from the local firm Zolfo Cooper, which provides corporate advisory and restructuring services, its partners, Tammy Fu and Eleanor Fisher, have been appointed as joint receivers of the struggling company.
Although the resort was still operating as normal this week, the receivers were called in by the lender Scotiabank & Trust. Following the appointment by the bank of Fu and Fisher, Zolfo Cooper (Cayman) Limited said anyone requiring information should contact the receivers via email at: treasureisland@zolfocooper.ky
Category: Local Business, Stay-over tourism, Tourism
