The company was put up for sale with John Lee, a partner at PricewaterhouseCoopers (PwC) appointed receiver/manager with PwC senior manager Wilfred Baghaloo overseeing the sale.

National Investment Bank of Jamaica (NIBJ) placed Teleservices Jamaica in receivership earlier this year after it failed to meet interest obligations on public loans, and following speculation that the telemarketer was having difficulty covering its operational costs.

LARGER FACILITY

Teleservices operated from leased facilities in the Montego Bay Free Zone and Portmore, the latter of which is the larger facility at 25,000 square feet to Montego Bay's 21,000. Together they account for 670 telemarketing stations, plus 80 training seats. Teleservices uses voice over Internet protocol, with seven international private line circuits. What makes Teleservices an attractive proposition is its free zone status and revenue contracts. Teleservices is reported to have had some $400 million of public funds invested in it over a two year period with $226 million coming from the INTEC Fund. It currently employs 590 people.

The existing management team is still in place with the staff having received letters from their new employer offering them new employment terms. Teleservices previously had a five-year contract with West Corporation, which was its main client.

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