Wrightbus in administration
Wrightbus has entered administration.
Michael Magnay and Peter Allen of Deloitte were today appointed as joint administrators to Wrights Group Ltd, Wrightbus Ltd, Wright En-Drive Ltd, Wright Composites Ltd and Metallix Ltd.
The news comes as a new investor in the business was not secured last week. The lack of a buyer unfortunately means approximately 1,200 redundancies are being made today (25 September 2019). Wrightbus has been in business since 1946 and at the time of Deloitte’s appointment, it had around 1,250 employees.
Michael Magnay, joint administrator, said: “It is bitterly disappointing for all concerned that despite extensive efforts over recent months it has not been possible to find a buyer who wanted to maintain the business as a going concern.
“We recognise the Companies are crucially important employers in Ballymena, and this will be devastating news for those who worked there, their families and the town, which has already suffered from a number of manufacturing closures in recent years. We will continue to support employees through this difficult time.
“The joint administrators will explore all remaining options for the business and assets, and would encourage any parties with an interest to contact them.”
TUV leader and local Member of Legislative Assembly (MLA), Jim Allister, said: “The impending administration of Wrightbus is devastating news not just for the employees of Wrightbus but the wider North Antrim community and supply chain. My heart goes out to the hundreds with no wage packet this week or job hereafter.
“Michelin, JTI and now Wrightbus, the heart has been ripped out of Ballymena.”