Stagecoach completes Preston Bus purchase

Stagecoach has today (Friday) confirmed that it has completed the purchase of Preston Bus for an undisclosed sum.

It follows approval by Preston Bus' employee shareholders at a meeting yesterday (Thursday).

Stagecoach has confirmed that, while there will be some changes to management and administration roles as part of the acquisition, it has given a two-year no compulsory redundancies commitment to driving and engineering staff.

The Preston Bus operations will become part of Stagecoach North West, headed by its existing Managing Director Chris Bowles. Passengers will benefit from a more integrated network on all main corridors and new range of simpler fares and ticket types.

Preston Bus Managing Director Peter Bell said that the sale was prompted due to the 'uncertain future' it faces as a result of the economic climate and legislative changes, including the Local Transport Act, the Government's plan to change BSOG, and suggestions that operators should not be fully reimbursed for concessionary travel.

"All of these issues could have seriously undermined the business and, as a result, the Directors decided it was in the best interests of employees and the business to approach potential purchasers," he said.

Preston Bus, has around 300 employees and a fleet of around 120 vehicles, operating on 14 key routes in Preston and South Ribble. Stagecoach already operates around 160 vehicles in the Preston, Chorley and Fylde areas.