Regional telecommunications conglomerate Digicel has filed for bankruptcy before the Bermuda courts but insists that its day-to-day operations will not be affected by the filing and directors of the Barbados division say that unit is financially strong and here to stay.
The bankruptcy filing involves the appointment of three provisional liquidators from KPMG, the global services company.
The bankruptcy finding in Bermuda where the Digicel parent company is registered comes days after the company implemented a group-wide salary cut, seen as part of Digicel’s attempt to restructure 1.6 billion US dollars of its estimated 7 billion US dollar debt.
Ralph ‘Bizzy’ Williams, a director of Digicel Barbados gives the assurance that the operations here continue business as usual.
Mr. Williams, the Chairman of Williams Industries which owns 25 per cent of the shares in Digicel Barbados also gave customers the assurance that the company is here to stay.