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CL Financial Group tipped to acquire courts Ltd.

CL Financial Group tipped to acquire courts Ltd.

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Even as wild speculations continue to be bantered around, information reaching SEARCHLIGHT Business indicates that the Caribbean Chain of Courts furniture stores, including Courts St Vincent limited is to be purchased by the CL Financial Group of Companies.

Even though rumors have gone as far as to suggest that a Latin American company was seeking to buy the popular furniture and appliance store, information reaching SEARCHLIGHT Business indicates that it is in fact the Caribbean conglomerate and parent company of CLICO and British American insurance companies who will be the buyer.{{more}}

Local employees have been in no man’s land after hearing that the company was to be sold; that is, after the UK based parent company filed for bankruptcy some time ago.

“We don’t know what will happen to us when someone else is in charge” stated one concerned employee. Local manager, Edward Newman however stated that there was no cause for concern by employees at this time. “We have been informed that the company will be sold and it has no implication on the workers…It is business as usual,” stated Newman, insisting that he was unable to confirm or deny SEARCHLIGHT’s information about the buyer of the company.

Newman however stated that the St Vincent branch will be sold as part of a group as was done with the Far East branches. “The whole Caribbean will be sold as a group.”

When SEARCHLIGHT Business contacted CL Financial’s head office in Trinidad we were told by a representative that the company could not comment on the matter at this time. “When the time is right the information will be passed on to the press about that.” ended the representative.

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