Simon Cowell has invested £15 million in property at the brand new Clearwater Bay development by the Four Seasons hotel group in Barbados - and he's worried that he might lose the lot as work on the project grinds to a halt as a result of the global economic crisis.
The £280 million development site called a stop to building work last week and sent the workers (mostly immigrants from Guyana) home without pay after a major investor pulled his backing out of the project. Barbados Prime Minister David Thompson has intervened to try and secure more cash, but workers are yet to return to the site.
A pal of Simon's told The Sun: "It’s a big problem. He’s got a lot of money tied up over there and doesn’t know yet whether he’s going to get it back."
The Bajan government is very involved in this project, say my sources. Johnny Ikon thinks Simon's money is safe. They'll make sure there are no high-profile losses at the very least.
|Posted February 24, 2009.||Log in to comment.|