Stagecoach buses in London
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Stagecoach has sold the company bus, which has approximately 15pc market London, Macquarie, who created the ELB 264 million ￡ in 2006.
However, profitability has declined and labouring under a burden of debt, the company is entered Administration yesterday, only to be bought back right yet by Stagecoach, in what is called a pre-Pack administration.
Jim Tucker, common administrator with KPMG, which handled the sale, said he had assured business as usual in the operational part of the company.
Brian Souter, Executive Director, Stagecoach, said the company not to underestimate the challenges encountered in the conduct of the financial performance of ELB but appreciated the possibility of establishing the value of a recovery situation.
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