AN HISTORIC Kidderminster bus firm could be closed with dozens of jobs lost unless a new owner can be found, the Shuttle can reveal.
Whittle Coach and Bus Ltd has been put on the market by Hull-based owners EYMS Group Limited, who have blamed years of operating losses for the decision.
A new buyer is now being sought as soon as possible to help safeguard the futures of 50 full time and a number of part time and casual employees.
But bosses have warned that, if the company is not bought, they may have to cease trading. Consultation with staff has begun and will continue over the coming weeks.
Peter Shipp, EYMS Chairman, also confirmed that potential, interested buyers were being contacted.
Whittle Coach and Bus Ltd was established in 1929 and runs services across Wyre Forest, Stourbridge, Halesowen and Brignorth from its Kidderminster base.
Whittles has an annual turnover of almost £4m, split between local bus services, coach operations, including day trips, private charter and holiday tours, and operations on contract to National Express.
EYMS took over the company from owner Ron Whittle in 2004.
As well as competition in both the bus and coach market, Mr Shipp said factors including the Government’s 20 per cent cut in Bus Operators’ Fuel Duty Subsidy in 2012, which had been in place since the 1960s, and pressures on local authority budgets which have reduced concessionary travel reimbursement to bus operators and the money available for councils to support unprofitable services, have all added to the problems.
Mr Shipp, said: “Despite big efforts over the last few years it has not been possible to reduce the losses and after a great deal of soul searching we have decided that we have no option but to try and sell the business. “Whilst it has not worked for us, it could well be that for one or more other operators perhaps based in the area, there could be some synergies which would make the operation worthwhile and we are contacting anyone we think might be interested in buying all or part of the business.
“It is important to stress that neither Whittles nor EYMS Group is in actual financial difficulties so payments to suppliers, and pay and all other monies due to our employees up to the date of sale or closure are not at any risk, and Whittles’ coach business will continue as normal at least until the end of the year.”
“This is a huge disappointment for me but, of course, it will be an even bigger disappointment for the staff at Whittles and we will be giving them every opportunity to talk to our managers in the next few weeks so that they can discuss the issues which will undoubtedly affect them, and we will offer advice and practical help wherever we can.”
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