Mon, 25 Oct 2010 | ADMINISTRATION
Northern Ireland's largest independent bus company has fallen into administration.
Ian Finnegan, of ASM Chartered Accountants, has been appointed administrator for the County Londonderry-based firm Chambers.
The Moneymore-headquartered bus company - which was owned by the Chambers family for 40 years, until it was bought in 2007 by venture capital firm Enterprise Equity – employs 85 staff.
Mr Finnegan said, “There should be no job losses and all services will continue as normal.” Part of the current services run by Chambers includes a contract with the Department for Regional Development to provide door-to-door transport for people with disabilities.
A contract which the firm held to run a twice nightly service from Belfast to Dublin on behalf of Translink, however, has not been renewed and the firm's private hire operation has already been sold.
In other Northern Ireland news, two companies from the Coleraine-based Kennedy Group have also gone into administration.
The 55 employees at Kennedy Contracts and Concrete Products could lose their jobs. The company said that the directors had no option but to cease operations, due to the "downturn in the construction industry coupled with the lack of support available within the banking sector."
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