on Monday when the hotel closes.

The news was given by owner Mr. Reggie Cooper who is in the process of selling the hotel.

But Mr. Cooper has promised to help the 43 employees find work and has already been approached by two major hotels.

He has also agreed to pay for medical benefits throughout February in case any of his staff are taken ill while seeking work.

Upset that his long association with Glencoe is soon to end, Mr. Cooper said it was "only right'' that he should help his staff.

He took over the hotel in 1956 when it could accommodate 18 guests. It is now able to cater for 82 guests.

Mr. Cooper said that final details of the sale to Management Resources would be ironed out in mid-February. The hotel is being turned into 13 executive suites for the business community.

Mr. Cooper gave the bad news to his staff at a meeting yesterday morning. "I told them that Glencoe would close permanently at the end of the month,'' he said.

He informed staff that he would be paying out more than $200,000 in redundancy pay.

"I also told them that we would pay for their major medical for the next month while they are looking for a job. There will be no deductions from their redundancy.

"I wished them all well. I told them if any of them wanted any help looking for jobs I would be pleased to do so.

"I think that was the only thing I could do. It came very suddenly. Some of them have not even looked for jobs.'' Mr. Cooper said that Marriott's Castle Harbour Resort and the Southampton Princess hotel had already asked staff members from Glencoe to apply for interviews.

Glencoe is part of the Bermuda Collection, a group of seven cottage colonies and small hotels that joined forces in the mid-1980s for a distinct marketing identity.

Spokesperson for Management Resources, Mrs. Renee Edgecombe was not available to comment on the deal yesterday.