Villa asks employees to

Villa Group has asked employees to ‘find other ways’ amid salary delays as it struggles with financial problems.

The company informed employees yesterday that revenues had seen a significant decline since November 2014, and relentless efforts were ongoing to overcome this situation.

Villa has not paid salaries for April 2015, and employees were warned that the company was not able to confirm at this stage, a date for resuming payment of salaries.

It further said that efforts to obtain a bank loan to cover costs have stalled, due to the government’s actions in terms of “irresponsible propaganda, false information, and freezing of bank accounts”.

Villa assured that employees who choose to leave the company would be paid their due salaries once the company recovers from its current financial situation.

Maldives Inland Revenue Authority (MIRA) has notified banks to freeze some accounts of Villa Group, after the company defaulted on MVR 1.4 billion owed to the State.