Tag Archives: Rayside Construction

The demise of Rayside Construction, Barbados

Barbados Free Press cautions all to take this and everything you read at BFP or anywhere with a good dose of salt. Rayside Construction is now tied up in the whole CLICO mess, so this story matters because it’s OUR MONEY at stake as usual. That said, here’s some information from…

“Everyone Loves Rayside”

submitted anonymously via European proxy

This is nothing but the whole truth;

For sometime now, evil persons have sought repeatedly to attribute blame to Mrs Marquetta Rayside, wife of Keith Rayside Snr, for the demise of the Rayside Group of companies.

She has been accused of stripping the group of companies of its financial assets since assuming the office of Chief Executive Officer in 2005.

However, in this expose, this writer hopes to apportion blame where it is rightfully due.

Are Barbadians aware that prior to his marriage to this beautiful young lady, the group of companies was heavily indebted to the VAT Office, the National Insurance Scheme and Inland Revenue?

Are Barbadians aware that the group of companies was facing major challenges in servicing their bank loans having secured overdraught facilities carrying interest rates as high as 14 per cent in some cases?

Are Barbadians aware that on many occasions funds due to the company for work done for government agencies were garnished in an attempt to collect arrears due to the government agencies identified above?

How can anyone strip a company of its financial assets when its bankers and government agencies were keeping a keen eye on its financial dealings? Continue reading

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Filed under Barbados, Consumer Issues, Corruption