This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/uk-northern-ireland-49818156
The article has changed 17 times. There is an RSS feed of changes available.
| Version 7 | Version 8 |
|---|---|
| Wrightbus: Job loss fears as firm enters administration | |
| (30 minutes later) | |
| Wrightbus has entered administration putting a large number of jobs at risk, according to a union. | |
| The company is suffering from cash flow problems and had been seeking investment or a new owner. | |
| The firm, which is the last UK-owned bus manufacturer, is best known for building the New Routemaster, known as the 'Boris Bus'. | The firm, which is the last UK-owned bus manufacturer, is best known for building the New Routemaster, known as the 'Boris Bus'. |
| Talks with two potential buyers failed to reach a conclusion last week. | Talks with two potential buyers failed to reach a conclusion last week. |
| Wrightbus managers briefed unions at the factory In Ballymena on Wednesday and it was later confirmed that the company had gone into administration, describing the move as a "needless and devastating blow". | |
| DUP MP Ian Paisley said he understood employees have been informed the administration of the bus manufacturer is "now happening". | |
| He described the news as a "body blow" for Ballymena and the wider Northern Ireland's economy. | |
| "Essentially from this point the administrator has a week to find a buyer," Mr Paisley said. | "Essentially from this point the administrator has a week to find a buyer," Mr Paisley said. |
| Mr Paisley said employees would be told what the process would mean for them when unions are briefed, and that he is due to meet the prime minister and secretary of state on Wednesday. | Mr Paisley said employees would be told what the process would mean for them when unions are briefed, and that he is due to meet the prime minister and secretary of state on Wednesday. |
| He told Good Morning Ulster that the news was "a real tragedy" for the company's 1,400 employees and "a further 1,700 people affected up and down the supply chain". | He told Good Morning Ulster that the news was "a real tragedy" for the company's 1,400 employees and "a further 1,700 people affected up and down the supply chain". |
| Jackie Pollock, regional secretary of the Unite trade union said that the Wrightbus workforce was "at the cutting edge of technological advancements in the design and supply of green public transport". | Jackie Pollock, regional secretary of the Unite trade union said that the Wrightbus workforce was "at the cutting edge of technological advancements in the design and supply of green public transport". |
| He added: "Ultimately if a solution based on a new buyer isn't found immediately, the government must intervene to save jobs and skills. | He added: "Ultimately if a solution based on a new buyer isn't found immediately, the government must intervene to save jobs and skills. |
| "Just three months ago Boris Johnson gave assurances that he 'will do everything we can to ensure the future of that great UK company', he has a chance today to do something decent." | "Just three months ago Boris Johnson gave assurances that he 'will do everything we can to ensure the future of that great UK company', he has a chance today to do something decent." |
| At the factory gates: 'I have nothing now' | At the factory gates: 'I have nothing now' |
| by Richard Morgan, BBC News NI business reporter | by Richard Morgan, BBC News NI business reporter |
| Staff have been arriving in a steady stream at the Wrightbus facility in Ballymena this morning. | Staff have been arriving in a steady stream at the Wrightbus facility in Ballymena this morning. |
| The car park at the site is almost full. | The car park at the site is almost full. |
| Norman Stephens has worked at Wrightbus for 30 years and said he is gutted. | Norman Stephens has worked at Wrightbus for 30 years and said he is gutted. |
| "For the last five years, management has told us that they can't give us a wage rise as they were investing it in the company. | "For the last five years, management has told us that they can't give us a wage rise as they were investing it in the company. |
| "Who is going to employ a 62-year-old man? I have nothing now. That's it. | "Who is going to employ a 62-year-old man? I have nothing now. That's it. |
| "I'm off shift and due back in tomorrow night but I've been in since 8 o'clock hoping to find out if I've got a job." | "I'm off shift and due back in tomorrow night but I've been in since 8 o'clock hoping to find out if I've got a job." |
| "The administrator will need to find someone of calibre and of real standing who has the wherewithal and the skill to take this company on," he said. | "The administrator will need to find someone of calibre and of real standing who has the wherewithal and the skill to take this company on," he said. |
| Latest accounts show that the Wrightbus group lost £1.7m on a turnover of £227m in 2017. | Latest accounts show that the Wrightbus group lost £1.7m on a turnover of £227m in 2017. |
| But its financial situation has deteriorated since then. | But its financial situation has deteriorated since then. |
| It made two rounds of redundancies last year with 95 jobs going in February and June, which it said reflected continued low levels of demand for new buses in the UK market. | It made two rounds of redundancies last year with 95 jobs going in February and June, which it said reflected continued low levels of demand for new buses in the UK market. |
| The UK has traditionally been Wrightbus's biggest market but it has been contracting for over two years. | The UK has traditionally been Wrightbus's biggest market but it has been contracting for over two years. |
| Figures from the Society of Motor Manufacturers and Traders (SMMT) show that in the second quarter of this year new bus and coach registrations are down 30% compared to the same period last year. | Figures from the Society of Motor Manufacturers and Traders (SMMT) show that in the second quarter of this year new bus and coach registrations are down 30% compared to the same period last year. |
| That marks the tenth quarter in a row that new registrations have declined. | That marks the tenth quarter in a row that new registrations have declined. |
| Wrightbus: From driving seat to financial failure | Wrightbus: From driving seat to financial failure |
| In 2012, Wrightbus was riding high. The company launched a new red double decker bus for London. | In 2012, Wrightbus was riding high. The company launched a new red double decker bus for London. |
| A fleet of the New Routemasters had been ordered by the then mayor Boris Johnson - and so became known as Boris Buses. | A fleet of the New Routemasters had been ordered by the then mayor Boris Johnson - and so became known as Boris Buses. |
| It was a triumphant time for the Ballymena business, but now it's been brought low. | It was a triumphant time for the Ballymena business, but now it's been brought low. |
| Read more on the firm's financial fall here. | Read more on the firm's financial fall here. |
| Sinn Féin MLA Conor Murphy said it was a "matter of huge regret the firm has descended into this kind of financial uncertainty". | Sinn Féin MLA Conor Murphy said it was a "matter of huge regret the firm has descended into this kind of financial uncertainty". |
| "I think it is a very worrying time and I feel very much for the workers," he said. | "I think it is a very worrying time and I feel very much for the workers," he said. |
| TUV leader Jim Allister said the impending administration was "devastating news not just for the employees of Wrightbus but the north Antrim community and supply chain". | TUV leader Jim Allister said the impending administration was "devastating news not just for the employees of Wrightbus but the north Antrim community and supply chain". |
| In March 2016, Wrightbus founder Sir William Wright became the first major business figure in Northern Ireland to voice his support for Brexit. | |
| The businessman told the Ballymena Guardian newspaper: "I am totally in favour of getting out." | The businessman told the Ballymena Guardian newspaper: "I am totally in favour of getting out." |