There are four potential buyers currently in talks with the administrators of the failed Ballymena bus builder, the Wrights Group, union leaders have confirmed. Wrightbus was part of the Wrights Group whose parent company was the Cornerstone Group. Last Wednesday Michael Magnay and Peter Allen of Deloitte were appointed as joint administrators to Wrights Group Limited, Wrightbus Limited, Wright En-Drive Limited, Wright Composites Limited and Metallix Limited, (together “the Companies”). Politicians in Northern Ireland who have met with the administrators to the Wrights Group are concerned that there may be a “number of obstacles that need to be overcome” to secure a rescue deal for the Wrights Group. “Any associated dividends taken from the Wrights Group compiled with the requirements of the current letters of offer.

Source: The Irish Times October 02, 2019 19:18 UTC