Thu, 26 Sep 2019 | ADMINISTRATION
Wrightbus, the manufacturer behind the revived Routemaster and the Boris bus, has collapsed into administration, making it the second biggest insolvency this week following the fall of Thomas Cook holiday group.
Based in Ballymena, Northern Ireland, the engineering company was forced to appoint professional services company Deloitte to handle the administration process, after it failed to secure a buyer for the business.
Deloitte is expected to oversee the administration of the Wrights Group, Wrightbus, Wright Composites, Wright En-Drive, and Metallix.
One of the joint administrators, Michael Magnay, said: “We recognise the companies are crucially important employers in Ballymena, and this will be devastating news for those who worked there, their families and the town, which has already suffered from a number of manufacturing closures in recent years.
“The joint administrators will explore all remaining options for the business and assets, and would encourage any parties with an interest to contact them.”
Adding to this, MP for North Antrim, Ian Paisley, commented: “Administration, I hope, offers an opportunity to attract a sale on amended terms to the last month’s negotiations. I can’t imagine a situation where Ballymena would be without its bus building company and I hope we can get this matter resolved quickly.”
The company’s collapse follows Prime Minister Boris Johnson’s vow to do everything in his power to support the Wrightbus company without breaching state aid rules. However, a government source denied the assurances made by Johnson and his government.
Unite trade union’s regional secretary, Susan Fitzgerald, added: “Boris Johnson as his hobby makes buses out of wooden crates. What he needs to do is stop with his hobby and engage now straight away in a rescue plan to save these jobs and save this area. What future is there for young people in Ballymena?”
Achieved a YE20 turnover of £942k. Generated pre-pandemic turnover of £1.44m in YE19. Highly regarded business operating over a span of two decades.
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Specialises in the provision of polymer injection moulding, incorporating a comprehensive range of services, including engineering and assembly.
LEASEHOLD
Established over 20 years; owned by current shareholders from inception. Excellent reputation in sector and high levels of client retention.
LEASEHOLD
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