Lifeline for transport group as administrators reveal sale plans
The administrators of the largest accessible transport provider in the UK has announced plans to sell the business to a national company, securing the long term future of the service.
In March, Matthew Ingram and Tyrone Courtman, both of Duff & Phelps, were appointed joint administrators of Accessible Transport Group Limited, Ring and Ride West Midlands Limited and ATG Contract Services Limited.
The group employs 700 staff and operates more than 600 vehicles from nine depots across the West Midlands.
Funding from Birmingham City Council and Transport for West Midlands was secured, which ensured that there was no interruption to the day-to-day services provided as administrators explored options for the business.
Today, Ingram announced that they have begun advising the union and the employees of the details of the proposed sale of the business and assets of the charities to a national transport provider.
“The deal we have negotiated will provide a stable financial platform, ensuring the long-term provision of these vital services across the West Midlands,” he said.
“This could not have been achieved without the support of all the employees, Birmingham City Council and Transport for West Midlands, ensuring a continued service whilst the joint administrators explored the viable options following their appointment.”
“We are very grateful to them for that support and will now seek to conclude the sale as soon as practicably possible to provide certainty to them and all users of the services they provide,” he added.