KPMG receiver for Coral Beach

KPMG have been appointed as the receiver for the troubled Coral Beach Club.

The firm said it hoped that a new purchaser would be found to provide a 'prosperous future' for the club.

Mike Morrison and Charles Thresh of KPMG Advisory Ltd were appointed Joint Receivers yesterday to the Coral Beach and Tennis Club as well as Horizons.

Together with the mortgage holder, Swedbank AB New York Branch and their agents, the Joint Receivers are currently taking steps to find a suitable purchaser for both the Club and Horizons. 

A statement released by KPMG said that the Joint Receivers intend to continue the operations of the Club without interruption, and will continue to work with Club management, employees andsuppliers to ensure as little change as possible throughout this period.

Mr Thresh said: “We understand that the past year has been a time of uncertainty for the Club. It is our hope that a new purchaser will be able to provide a prosperous future for the Club.”

Creditors, suppliers and/or potential purchasers should contact Andrew Shailer on +1 441 294 2628, by fax on +1 441 295 8280 or by email at [email protected]