Management buyout of First Bus report.

Bus and Coach operations, new or changed services and timetables for First Midland Red Buses Limited or its predecessor, Midland Red West Limited.
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TimBrown
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Location: Worcester

Management buyout of First Bus report.

Post by TimBrown » 16:43 Sunday 15th September 2019

This article appeared in The Sunday Telegraph Business & Money section today..

Does this support rumours heard recently concerning the Worcester operation?
First Bus management buyout 001.jpg

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AdamH
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Re: Management buyout of First Bus report.

Post by AdamH » 18:21 Sunday 15th September 2019

It does!

bmmoboy
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Re: Management buyout of First Bus report.

Post by bmmoboy » 12:15 Tuesday 17th September 2019

So it is deja vu, management buyout like 1985, then snapped up by a larger business in a few years time possibly.

Reddibus
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Re: Management buyout of First Bus report.

Post by Reddibus » 22:40 Tuesday 17th September 2019

Could it be Midland Red West Holdings al over again?

Interestingly the original off the shelf company Ken Mills and his fellow six senior managers formed to purchase Midland Red (West) Ltd in 1986 called Midland Red West Holdings Ltd still exists.

It started life with the name INGLEBY (170) LIMITED and went onto become Midland Red West Holdings Ltd which purchased the company, Midland Red Coaches and Bristol OC from National Bus. In 1997 it became FIRSTGROUP HOLDINGS LIMITED and is currently a Non-trading company within Firstgroup

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AdamH
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Re: Management buyout of First Bus report.

Post by AdamH » 06:27 Wednesday 18th September 2019

Reddibus wrote:
22:40 Tuesday 17th September 2019
Could it be Midland Red West Holdings al over again?

Interestingly the original off the shelf company Ken Mills and his fellow six senior managers formed to purchase Midland Red (West) Ltd in 1986 called Midland Red West Holdings Ltd still exists.

It started life with the name INGLEBY (170) LIMITED and went onto become Midland Red West Holdings Ltd which purchased the company, Midland Red Coaches and Bristol OC from National Bus. In 1997 it became FIRSTGROUP HOLDINGS LIMITED and is currently a Non-trading company within Firstgroup
This was on the window of Heron Lodge, the old Headquarters. The photo was taken on the day it closed down in May 2008.
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ANDREW
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Re: Management buyout of First Bus report.

Post by ANDREW » 18:03 Wednesday 18th September 2019

Could be a possibility then ? ;)

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