Date Published: 23rd February 2022
The bus and coach business was located in Coalhall, By Ayr.
The company had been providing private hire contracts and school transport services since 1977.
In the recent period, the business operated circa 18 vehicles and provided school bus services and passenger routes across Ayrshire.
All 18 staff were immediately made redundant by the liquidators on 16 February for reasons of insolvency.
Begbies Traynor has liaised with Strathclyde Passenger Transport, in conjunction with South Ayrshire Council, to ensure an ongoing service for all of the company’s school bus routes via alternative means.
Thomas McKay, partner at Begbies Traynor, said: “Unfortunately, after the last two years of difficult trading, the business has suffered from a cash flow perspective and latterly proved unviable, due to material decreases in turnover and remote learning for children, resulting in a reduction in the number of buses on the roads and income for the business.
“Alternative operators have been contacted to cover the school bus services in order to minimise disruption to passengers. We are now in the process of dealing with the company’s affairs and realising any assets to provide the best return for creditors.”
Thomas joined Begbies Traynor in 2005 and has significant experience in the advisory and restructuring sector. He has acted in borrower and national mainstream Bank engagements, providing turnaround and strategic advice in a vast amount of both solvent and insolvent capacities.