Yellow Buses collapses with loss of around 250 jobs
YELLOW Buses collapsed last night (Thursday) after administrators were unable to finalise a deal to rescue the company.
The business, which had 300 staff and whose patch included Christchurch and the west of the New Forest, went into administration last week.
When hopes of a full sale were dashed, the plug was pulled.
However, 50 jobs are expected to be saved today by an agreement to save the coach side of the business, officially known as Bournemouth Transport Ltd.
Simon Rowe, of administrators Milsted Langdon, said in a statement: "Whilst we are delighted that the proposed deal will save a significant number of jobs, it is hugely disappointing that we weren’t able to secure the remainder of the business and the jobs attached to it.
“We have informed the staff of the position and I would like to thank all of them for their patience and understanding over the last few difficult days.
"I would also like to thank the other stakeholders who have offered and given their support, in particular BCP Council and Unite, both of whom took an active interest and tried to help us present a vision of a sustainable future for Yellow Buses.
“Unfortunately, in the end, the financial challenges which the company faced during its trading life meant that every buyer we spoke to felt that the prospects were not commercially viable.
“The closure of Yellow Buses leaves a gap in the public transport network for the residents and visitors to Bournemouth, Poole and Christchurch and we are working with BCP and MoreBus to try and minimise the disruption this will inevitably cause.”
A further statement will be announced once the deal has been completed.
Business have come forward with offers for Yellow Bus staff, including former competitor MoreBus, which said it was trying to fill the gaps in services.
Morebus managing director Andrew Wickham said; "For Yellow Buses drivers who are concerned about their careers, I’m pleased to report that Morebus is increasing its rate of pay from this coming Sunday, to £13 an hour.
"And, for a limited period, we will continue to offer our £2,000 welcome bonus for anyone who joins with a PCV licence."
He added: “We recognise the impact a change of operator will have on passengers, and appreciate some people may already have tickets from Yellow Buses.
"We are happy to accept these up until and including Saturday 13th August, as we welcome new customers on board our award-winning services."
Meanwhile a guaranteed job interview and training for successful applicants was offered to Yellow Buses staff by Good Oaks Home Care branches in the New Forest, East Dorset, Bournemouth and Poole.
Sam Jones, co-founder of the company which offers live-in and visiting care, said: “Yellow buses have served our community for over 100 years, I am sure we have all used their service at some point in our lives, so now it’s our turn to give back.
"We know people will be worried if they are affected by the closures, so we want to give staff an opportunity to explore the possibility of becoming a carer.
"So many of the skills that make people great customer service representatives and drivers are really transferable into care.”
Contact Good Oaks Home Care via firstname.lastname@example.org