Page last updated at 15:43 GMT, Thursday, 25 March 2010

Workers begin bid for Preston bus company

Stagecoach bus (generic)
The bus deal was not in passengers' interests, it was ruled

Ex-workers for a former Lancashire bus company are planning to bid to buy it back from its new owners.

Stagecoach and Preston Bus Ltd were competing for ownership before Stagecoach bought it out last year.

But the Competition Commission (CC) ruled Stagecoach must sell Preston Bus as the deal reduced competition and was not in passengers' interests.

Preston City Council has put forward £25,000 to help former Preston Bus workers to put a bid forward.

The funds will be used for experts to help the workers put their case forward to the CC.

Appeal on sale

In a joint statement the council's group leaders Councillors Ken Hudson (Conservative), John Collins (Labour) and Danny Gallagher (Liberal Democrat) said: "Preston Bus was an employee owned company and it served the people of Preston with distinction for over 20 years.

"We have offered support to enable former employees to put together an initial business case. The bid will be considered by the Competition Commissioner in due course."

The two firms were involved in competition for fares in the city from 2007.

Stagecoach is appealing against the decision to force it to sell Preston Bus.



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SEE ALSO
Company must sell 'bus war' rival
11 Nov 09 |  Lancashire
Inquiry into 'bus war' buy-out
03 Sep 09 |  Lancashire
'Next stop' after city's bus war
11 Jun 08 |  Lancashire
Stagecoach called to bus inquiry
18 Dec 07 |  Lancashire

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