د . إAEDSRر . س

Maltese Time-Share Company At Golden Sands Files For Liquidation Amid COVID-19 Pandemic

Article Featured Image

Azure Services, a Corinthia-owned tourism and timeshare company at the Radisson Blu Golden Sands, has filed for liquidation amid the COVID-19 pandemic, leaving roughly 30 jobs at risk.

Sources told Lovin Malta that the decision to liquidate the company was taken on 27th April but staff were only informed on 5th May. 

Meanwhile, there are serious questions surrounding the thousands of people from Malta, the UK, and Sweden who have long term contracts to stay at the hotel for one or two week periods every year.

A public notice revealed that Azure’s creditors have been invited to a meeting on 11th May which will detail the winding down of the company.

Creditors will need to provide a list of what they’re owed so the company can estimate the amount of their claims. A vote on the potential nominee for the office of the liquidator will also be taken.  The liquidator will also be tasked in paying any wages due to employees.

Sources have claimed that the company also applied for and received the COVID-19 supplement for the April salary.

The company hit the news after it faced allegations of misselling timeshares to hundreds of British holidaymakers in 2019.

The company ran into financial trouble towards the end of 2019. In December, a large chunk of the workforce was told that they would be made redundant to make way for an “elite team” as part of a new strategy.

Around 80 people lost their jobs right before Christmas. Azure hoped the company would move away from the sale of timeshare products and services and focus more on traditional high-end tourism at the resort.

However, it seems the COVID-19 pandemic derailed their plans, with the tourism effectively shut down for at least the next few months due to the outbreak.

Azure Services Limited is an MFSA registered company currently owned by Corinthia and Mediterranean Overseas Holdings Limited.

It was set up by the Island Hotels Group in 2003,  which marketed timeshares at the Radisson Blu Golden Sands. It was sold to Corinthia in 2015.

Ex-Manchester United football players Gary Neville and Ryan Giggs once held shares in the company.

Lovin Malta has reached out to Azure Services Limited for a comment.

READ NEXT: There Are Now Zero COVID-19 Patients In Malta’s ITU

Julian is the Editor at Lovin Malta with a particular interest in politics, the environment, social issues, and human interest stories.

You may also love

View All