Eight employees out of a total staff of 13 at Bermuda Glass have been offered jobs at Baptiste Builders Supply Ltd., the directors of the now defunct company announced yesterday.

The Royal Gazette yesterday revealed that Bermuda Glass had gone into receivership and were no longer in business.

And the company's receivers, Arthur Morris Christensen, said last night they had just started their investigations and could not say how much the company owed or what problems had led to its demise.

But they did say that they believed there had been 13 staff employed in the business before it went under.

Yesterday the directors of Bermuda Glass issued a statement through their lawyers Cox Hallett Wilkinson.

It said: "The directors of Bermuda Glass have regretfully concluded that the company must cease trading."

The directors said that despite "the shedding of expenses and the maximising of revenue potentials" over the past 18 months, the company was not salvageable.

The release cited "underlying historical problems" which were "incapable of solution" without a large amount of money.

"That capital has not been forthcoming," the statement added, without explaining what the historical problems were or where the money to save the company would have come from.

The directors also denied in the written statement that Bermuda Glass was owned by Baptiste's - despite the company issuing a release in December, 2001 announcing the purchase.

"Contrary to the report carried in The Royal Gazette the company was not owned by Baptiste Builders Supply Ltd. The company was located in the same building as Baptiste Builders Supply Ltd."

It went on to say that eight of the former employees of Bermuda Glass were offered new jobs at Baptiste, and referred all calls to the company's receiver, Craig Christensen, of Arthur Morris Christensen.

But Mr. Christensen is off the Island, and his associates said that they had not seen the share register yet and did not know who was behind the failed venture.

Calls to Lawyer Kim White, who sent out the release on behalf of the shareholders, were not returned at the time of going to press.

In December, 2001, in the press release from Baptiste stating it had bought Bermuda Glass, the company said Bermuda Glass had 13 employees, plus a new sales manager was employed for the company.

The story stated: "Baptiste Builders told The Royal Gazette that the acquisition of Bermuda Glass would not result in any layoffs.

"And the company predicted greater profitability, as a result of the acquisition, as both companies will eventually share one location.

"But, in the near-term Bermuda Glass will continue to operate at its present Hamilton location, and as a separate company."

The release in 2001 stated: "This is truly a joining of forces with all staff moving with this merger."