A Las Vegas timeshare company has shut down its sales and marketing operations and is planning to seek bankruptcy.
Consolidated Resorts, Inc., which owns Tahiti, Tahiti Village and Club de Soleil in Las Vegas, made the announcement today.
"As a result of the dramatic changes in the economy and the shrinking timeshare lending environment, Consolidated Resorts, Inc. has shut down its sales and marketing operations in Las Vegas, Orlando and Hawaii and will file for bankruptcy protection," company spokesman Ken Chupinsky said in a statement. "The scarcity of lenders in the timeshare industry has made it impossible to continue the company."
The operation of the resorts will continue uninterrupted, he said.
"What doesn’t change for all of the owners that have purchased from us for over 25 years is the continued operation of the 14 resorts. The resorts will continue to operate uninterrupted so owners that have reservations do not need to worry."
Owners with questions were referred to Soleil Management, which can be reached at 1-800-775-8463.
Company officials weren't available to discuss what effect the shutdown will have on jobs.
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2 comments:
It was unfair to do this to people that have to live paycheck to paychek...I Know for a fact that they knew they were going to do this for awhile, and instead of helping the people that made this company what it is today, they discard us like trash, and give us the shock of telling us , too bad so sad...well I hope that the spector's are really proud of the way they so called treat their family, their company and and their future....But there pocket's are full by our hard work, and no worries for them as they drive their range rovers, and expensive cars, and have their homes clear and free while we fight to stay in our homes and try to feed our families....Thank you for the oppertunity to work for a company that told us "work for less" and when things get better we will reward you...to....sorry and pack your things it's over goodbye....
Anonymous's wife said...
I am sorry for all the employees at the resort. Many loyal and talented employees stayed at Consolidated Resorts Tahiti Village and risked feeding their families to help the company increase sales...when all along the executives knew what was going on. Managers and Supervisors had up to 90% of their pay cut to almost nothing. Granted the economy (blah blah blah) but they all knew that the company was going down as far back as last year. To all the employees that lost their jobs, I am sorry and I will continue to pray for all of you. To all other people involved in the collapse of Consolidated's journey, you all deserve what you got!
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