Yellow buses, which serves passengers in Dorset has gone into administration this afternoon (Friday 29th July).
The company, which has operated in Bournemouth and surrounding areas for 120 years, said it has suffered from the challenges of the covid period.
This loss of revenue, compounded by a change in people's lifestyles and a growing reluctance to travel on public transport, has had a financial impact on the business.
The company added that additional factors such as the recent increase in fuel prices and the general rise in inflation has only made that greater.
The future of the company is currently uncertain, and the company said it recognises how important its services are to the community.
A spokesperson for Yellow Buses said their 120th year is “one of the most difficult”, adding: "All bus operators are finding things difficult as they struggle to recruit staff. This is compounded by all the problems we've seen about issues at the weekends – the volume of cars and congestion."In a joint statement today, Simon Rowe and Rachel Hotham of Milsted and Langdon LLP, who are the administrators appointed to take over Yellow Buses's affairs, said:
“We recognise that many people rely on the Yellow Bus network for all sorts of aspects of their daily lives and that for them and the 300 staff employed by the business this is an unsettling time.“We recognise this and want to reassure everyone that we and our team are doing all we can to ensure that the business continues to operate as normal as possible under the circumstances and continues to do so into the future.”The statement added: “Negotiations with a large national operator have entered the final stages and we hope to be able to conclude within a matter of days.“With its long history in the local area and its integral role within the community we appreciate that there will be a great number of people concerned about this news. What we would ask is that the community shows its support by using the services. Support Yellow Buses and crucially its staff by using the bus. Take a trip on one of the buses and let the drivers know they have your support. Show them just how important this service is to everyone.“We will of course keep the staff and customers updated over the coming days.”