Press Cuttings from Around the Country!
Press Cuttings from Around the Country!
Source: http://www.manchestereveningnews.co.uk/b...rm-5431595
Jobs saved as famous bus firm gears up for takeover
2 Aug 2013 11:07
Finglands, the Manchester-based bus firm is set to be bought by FirstGroup in a£50,000 deal, which will see all its 100 staff transfer to the new owners.
The end of an era is approaching for commuters as one of Manchester’s most famous bus firms looks set to be taken over.
Finglands, which was established in 1907 and has been running services across the city for decades, is set to be swallowed up by First Manchester.
The deal would see the firm’s white buses with beige, orange and brown stripes taken off the streets of Manchester.
The company operates a number of commercial bus routes and school contracts in the south and east of the city.
As part of the £50,000 deal, First Manchester will take over Finglands’ existing routes and acquire the lease of its depot on Wilmslow Road in Rusholme.
All of the 100 staff in Finglands’ bus operation would also have their employment transferred to FirstGroup as part of the deal, which needs to be ratified by the Office Fair Trading.
Finglands’ fleet of 41 buses would not be included in the purchase and bosses at Finglands’ owners East Yorkshire Motor Services group have indicated they would be used elsewhere.
First Manchester currently operates around 700 buses and employs 2,000 staff.
Over the last year the firm has cut fares on many routes by up to 30pc and saw an eight percent rise in passenger numbers in the three months between April and June this year.
In Finglands’ last filed accounts, it made a loss of £266,000 and bosses at the company said the sale was aimed at securing jobs. The firm is currently in consultation with 14 staff regarding the future of its coach business, which is separate from the bus operation.
Peter Harris, finance director at East Yorkshire Motor Services, which acquired Finglands in 1992, said: “It is no secret we have made a loss for the last few years. This is an ideal opportunity for us to work with First and secure as many jobs as possible.”
Dave Alexander, regional managing director for First in the north of England, said: “This acquisition demonstrates our commitment to Greater Manchester and represents an excellent opportunity to further grow bus passenger volumes.”
chris.slater@men-news.co.uk
Like the press-cuttings thread for bus operations in the North East; this is the thread to post interesting news items from other parts of the country. Discussion welcome.
Source: http://www.manchestereveningnews.co.uk/b...rm-5431595
Jobs saved as famous bus firm gears up for takeover
2 Aug 2013 11:07
Finglands, the Manchester-based bus firm is set to be bought by FirstGroup in a£50,000 deal, which will see all its 100 staff transfer to the new owners.
The end of an era is approaching for commuters as one of Manchester’s most famous bus firms looks set to be taken over.
Finglands, which was established in 1907 and has been running services across the city for decades, is set to be swallowed up by First Manchester.
The deal would see the firm’s white buses with beige, orange and brown stripes taken off the streets of Manchester.
The company operates a number of commercial bus routes and school contracts in the south and east of the city.
As part of the £50,000 deal, First Manchester will take over Finglands’ existing routes and acquire the lease of its depot on Wilmslow Road in Rusholme.
All of the 100 staff in Finglands’ bus operation would also have their employment transferred to FirstGroup as part of the deal, which needs to be ratified by the Office Fair Trading.
Finglands’ fleet of 41 buses would not be included in the purchase and bosses at Finglands’ owners East Yorkshire Motor Services group have indicated they would be used elsewhere.
First Manchester currently operates around 700 buses and employs 2,000 staff.
Over the last year the firm has cut fares on many routes by up to 30pc and saw an eight percent rise in passenger numbers in the three months between April and June this year.
In Finglands’ last filed accounts, it made a loss of £266,000 and bosses at the company said the sale was aimed at securing jobs. The firm is currently in consultation with 14 staff regarding the future of its coach business, which is separate from the bus operation.
Peter Harris, finance director at East Yorkshire Motor Services, which acquired Finglands in 1992, said: “It is no secret we have made a loss for the last few years. This is an ideal opportunity for us to work with First and secure as many jobs as possible.”
Dave Alexander, regional managing director for First in the north of England, said: “This acquisition demonstrates our commitment to Greater Manchester and represents an excellent opportunity to further grow bus passenger volumes.”
chris.slater@men-news.co.uk
![[Image: FTP_MENJBFingland-Bus-Ru005109_4_6593532-5431589.jpg]](http://i1.manchestereveningnews.co.uk/business/business-news/article5431589.ece/ALTERNATES/s615/FTP_MENJBFingland-Bus-Ru005109_4_6593532-5431589.jpg)