Correia Construction Company Ltd is to close its doors after 46 years in business.
In a notice printed in The Royal Gazette today, the company said that Dennis Correia and his staff had done everything they could to keep the company running”.
“Problems began when Dennis experienced serious health issues in 2017 and were compounded with a huge shortfall in cashflow ($3,400,000) due, in large part, to the $750,000 owned to the company for work at Caroline Bay in 2018,” according to the notice.
“Dennis offers his sincerest apologies to his hardworking and long-serving staff and creditors and hopes that he is able to work with the liquidators to ensure that all the company’s debts are paid in full.”
One of the major projects undertaken by Correia Construction in the past was the Bermuda Government’s Heritage Wharf development at Dockyard in the 2000s. The project cost $60 million, and was the subject of media scrutiny over structural difficulties since its completion.
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