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Wrightbus in administration

  • 24-09-2019 11:28pm
    #1
    Registered Users Posts: 564 ✭✭✭ thenightman


    Wright Bus are likely heading administration, deals to rescue it fell through last week. They have a week to find a buyer. Sad for jobs if they go under obviously, but at least no more shoddy WrightBus buses for us if they do.

    https://www.bbc.com/news/uk-northern-ireland-49818156


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Comments

  • Registered Users Posts: 28,187 ✭✭✭✭ Hotblack Desiato


    Ironically the fall in sterling since Brexit is a factor, pushing up their component costs

    It's not the workers' fault their boss is an idiot.

    "12 pages in and it still needs to be explained to some posters why this guy ended up where he did. It probably explains why so many gobshites get elected in this country."



  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 61,730 Mod ✭✭✭✭ L1011


    Gone in to Admin now.


  • Registered Users Posts: 24,683 ✭✭✭✭ punisher5112


    So what happens with any faults in buses already purchased?

    Will it be ah sure just sick it up and then replacement parts etc if it goes to the wall.


  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 61,730 Mod ✭✭✭✭ L1011


    Whoever, if anyone, buys that part of the company may be willing to cut a deal on warranty cover to keep further orders flowing. NTA were their second biggest customer as far as I know

    Main wear parts are going to be all Volvo anyway


  • Registered Users Posts: 11,850 ✭✭✭✭ josip


    According to the BBC over £15m has been siphoned off from the company by the Wright family for their own church.

    https://www.bbc.com/news/uk-northern-ireland-49818156


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  • Registered Users Posts: 7,677 ✭✭✭ dublinman1990


    I just heard about this from the BBC today. Good grief; 1,200 jobs lost at the firm today. I feel sorry for the staff who lost their jobs. It's another massive blow for NI's economy. This news is like what happened with Bombardier aerospace all over again but on a much worse scale than expected.


  • Moderators, Motoring & Transport Moderators Posts: 11,285 Mod ✭✭✭✭ devnull


    L1011 wrote: »
    Whoever, if anyone, buys that part of the company may be willing to cut a deal on warranty cover to keep further orders flowing. NTA were their second biggest customer as far as I know

    The contract for the double deckers is not with Wrightbus anyway, it's with Volvo so it's likely to be Volvo's problem rather than the NTAs as Wright are a subcontractor.

    The Streetlite contract is however, with Wright directly so that is a problem.


  • Registered Users Posts: 8,934 ✭✭✭ GM228


    devnull wrote: »
    The contract for the double deckers is not with Wrightbus anyway, it's with Volvo so it's likely to be Volvo's problem rather than the NTAs as Wright are a subcontractor.

    The Streetlite contract is however, with Wright directly so that is a problem.

    Not likely, rather it will be a Volvo problem if they don't come out of administration.

    The thing I'm wondering about is what Volvo will do to fulfil any outstanding contractual obligations - i.e what buses will be supplied to the NTA in lieu of any unfinished ones at Wrightbus due to the NTA (I guess the 50 remaining staff are there just to finished off what has been started, but there will be no more builds), unless the NTA and Volvo come to an agreement there will be outstanding buses to be built and delivered (how many of the 150 have been delivered this year).


  • Registered Users Posts: 181 ✭✭ Contrails


    Sooo... we'll probably be seeing more of the AH class hybrid?...


  • Moderators, Motoring & Transport Moderators Posts: 11,285 Mod ✭✭✭✭ devnull


    GM228 wrote: »
    Not likely, rather it will be a Volvo problem if they don't come out of administration.

    Sorry, I was writing very quickly and wasn't very clear, what I was saying was that even if Wrightbus don't emerge from this, then as the NTA's procurement and service contract for double deck vehicles is with Volvo, then Volvo would have to deal with the problem of what happens with parts and service thereafter since Wright are a subcontractor.

    Streetlite's are a whole different kettle of fish of course because they were procured through Wrightbus directly, as the Streetdeck Hybrids were. The fact that Mercedes do some work on behalf of Wright though on integral products means that they're likely to be able to get some kind of support for some of the non bodywork side of things on those products, but obviously that'll be a discussion that the NTA might need to have with Mercedes about the terms of that.
    The thing I'm wondering about is what Volvo will do to fulfil any outstanding contractual obligations - i.e what buses will be supplied to the NTA in lieu of any unfinished ones at Wrightbus due to the NTA (I guess the 50 remaining staff are there just to finished off what has been started, but there will be no more builds), unless the NTA and Volvo come to an agreement there will be outstanding buses to be built and delivered (how many of the 150 have been delivered this year).

    And that's a big question. We've seen Volvo in recent years partner more with MCV as Wrightbus have switched to integrals so they're less dependent on Wright than they were in the past, but make no mistake, today is a blow for Volvo and ADL won't be delighted Wright are gone, but it will certainly strengthen their grip on the market.

    Will the remaining staff at Wrightbus complete the order? Will someone buy them out? Will they just contract someone else to build them such as MCV? Or will they discuss the contract with the NTA about settling it in some way mutually? We'll have to wait and see. Maybe Volvo will be interest in Wrightbus? They've not really got a huge integral range themselves, and this might allow them into that market.
    Contrails wrote: »
    Sooo... we'll probably be seeing more of the AH class hybrid?...

    The reason that Volvo kept winning the big contracts for vehicles here is because they have by far the best after sales and support network in the country which would help them considerably when it came to tender scores as pretty much all tenders for vehicles now are full service ones, that involves spares and maintenance as well as the supply of the vehicles themselves.

    ADL really don't have that kind of scale, which is why you've generally never seen ADL integral products here in anything other than small numbers. The question is would they be willing to build on a Volvo Chassis or invest heavily in setting a support network up?


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  • Registered Users Posts: 1,914 ✭✭✭ dashcamdanny


    Was it lack of future orders that pushed them under?


  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 61,730 Mod ✭✭✭✭ L1011


    Was it lack of future orders that pushed them under?

    Asset stripping by the owners in the form of "donations" to their religious sect to the tune of 8 figures over recent years ensured they couldn't stand up to a sniffle let alone a proper shock.


  • Registered Users Posts: 24,683 ✭✭✭✭ punisher5112


    £15million on donations to a church....

    Is it another similar set up to Scientology??? As in money grabbers.


  • Registered Users Posts: 8,934 ✭✭✭ GM228


    Anyone know just how many single decker and double deckers are still outstanding to the NTA?


  • Registered Users Posts: 8,934 ✭✭✭ GM228


    josip wrote: »
    According to the BBC over £15m has been siphoned off from the company by the Wright family for their own church.

    https://www.bbc.com/news/uk-northern-ireland-49818156

    It was actually Wrights parent company The Cornerstone Group which made the donations, in 2017 they made a £4.1M donation which resulted in them having a £1.7M loss that year.

    When you have a company acting recklessly, and Jeff Wright publically stating he made "God" a 26% shareholder what hope have they got?

    This Twitter thread makes a very interesting read:-

    https://twitter.com/dup_online/status/1175358929162907648?s=19

    I'll call it here first: a potential investigation may be on the horizon into the financials of Wrightbus.


  • Registered Users Posts: 28,187 ✭✭✭✭ Hotblack Desiato


    Sure we had a presidential candidate who said that god was the chief financial officer of the charity she ran...

    "12 pages in and it still needs to be explained to some posters why this guy ended up where he did. It probably explains why so many gobshites get elected in this country."



  • Registered Users Posts: 4,417 ✭✭✭ Charles Babbage


    Sure we had a presidential candidate who said that god was the chief financial officer of the charity she ran...


    Charities funded by donations are not quite the same as businesses who need to produce saleable product.


  • Registered Users Posts: 28,187 ✭✭✭✭ Hotblack Desiato


    Excellent thread on alt_dup there. Looks very very dodgy indeed.

    "12 pages in and it still needs to be explained to some posters why this guy ended up where he did. It probably explains why so many gobshites get elected in this country."



  • Registered Users Posts: 13,710 ✭✭✭✭ Zebra3


    £15million on donations to a church....

    Is it another similar set up to Scientology??? As in money grabbers.

    That’s all religions....


  • Registered Users Posts: 13,483 ✭✭✭✭ loyatemu


    Excellent thread on alt_dup there. Looks very very dodgy indeed.

    wild stuff. dodgy business dealings, evangelical pastors on the take, taking grants from the EU while supporting brexit and then complaining about the collapse of sterling; all underpinned by the DUP... it's a Norn Iron full house!


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  • Registered Users Posts: 8,781 ✭✭✭ Carawaystick


    Thoughts with the 1200 workers who's jobs are gone through desperate mismanagement. Between this, Shorts and H&W, its been a bad time for transport manufacturing up North


  • Registered Users Posts: 24,683 ✭✭✭✭ punisher5112


    Seen BBC will be talking about it at 10pm news and a clip showed bus eireann and db double decker inside shed.


  • Registered Users Posts: 29,690 ✭✭✭✭ NIMAN


    Sad news for the area, that's a lot of jobs to lose.

    Just curious about this photo, are the employees doing a bit of asset stripping themselves?

    https://www.bbc.co.uk/news/northern_ireland


  • Registered Users Posts: 15,392 ✭✭✭✭ Spanish Eyes


    Fundamentalists gone rogue with their business. Very Christian of course.....That's certain parts of NI for ya. (should I mention DUP at all?).

    So sorry for all the workers. Brexit didn't help much either I suspect. But those fundies in business thought Brexit would be the dogs blx to NI, meaning they supported Arlene and company and how God would provide, how ironic. Anyway....

    United Ireland my foot. There are not many businesses left there now, it is all shops, supermarkets and the Public Sector. And we cannot take it on in reality anytime soon.

    Parked for the foreseeable now.


  • Registered Users Posts: 38,249 ✭✭✭✭ Guy:Incognito


    NIMAN wrote: »
    Sad news for the area, that's a lot of jobs to lose.

    Just curious about this photo, are the employees doing a bit of asset stripping themselves?

    https://www.bbc.co.uk/news/northern_ireland

    Their toolboxes?

    Mechanics own their own tools.


  • Registered Users Posts: 29,690 ✭✭✭✭ NIMAN


    Their toolboxes?

    Mechanics own their own tools.

    I would doubt if you were a coach builder employed by a big company they would expect you to bring your own tools to work.

    Maybe I'm wrong.


  • Registered Users Posts: 30,666 ✭✭✭✭ listermint


    NIMAN wrote: »
    I would doubt if you were a coach builder employed by a big company they would expect you to bring your own tools to work.

    Maybe I'm wrong.

    It's a general part of the industry thing.

    Mechanics own their own tools. It's a crap part of the trade frankly.


  • Closed Accounts Posts: 693 ✭✭✭ The Satanist


    This has DUP dodginess written all over it. Paisley, orange order, religious megabucks....


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  • Registered Users Posts: 24,683 ✭✭✭✭ punisher5112


    NIMAN wrote: »
    I would doubt if you were a coach builder employed by a big company they would expect you to bring your own tools to work.

    Maybe I'm wrong.

    They sure do....

    Look at cop car work shop on Dave...

    Exactly the same each mechanic has their own tools and are obliged to increase to whatever they need to get the job done.

    Lot of money in them boxes.

    I do wonder was there huge cut backs as of 2012 on the buses were poor and absolutely shake the bones off you especially since 2014 model change...

    Rattles e everywhere and unbelievably uncomfortable for driver and passenger.


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