Boris bus maker Wrightbus could secure a rescue deal as Jo Bamford, a member of the family behind JCB, has entered negotiations to buy the Northern Irish firm.
Bamford has entered exclusive talks about a potential deal, a fortnight after the company – which built the Routemaster buses during Boris Johnson’s time as mayor – entered administration, Sky News reported.
The Ballymena-based firm was forced to appoint Deloitte as administrator, in a move that put 1,300 jobs at risk.
The deal is dependent on Bamford coming to an agreement with a member of the Wright family who owns the bus company’s factory.
Rental payments are among the major hurdles that the company was negotiating before it entered administration.
Sources told Sky News that the latest rescue deal could collapse unless Bamford and Jeff Wright are able to come to an agreement.
Wrightbus had been searching for a new owner before it entered administration last month, with Bamford reportedly among the interested parties.
Earlier this year Johnson told the House of Commons the government would do “everything we can” to salvage the firm’s future.
He said: “It was of great value to the people of this country and I think it’s a great company and we will make sure, I give my assurance, we will do everything we can to ensure the future of that great UK company.”
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