Mayflower buses sale imminent

A SALE of TransBus, the coach builder owned by Mayflower, is close. Workers at its main site in Falkirk are taking an unscheduled week's leave to ensure the plant is ready for a sale.

The week-long break usually takes place in May but administrator John Reid at Deloitte said the change 'means the workforce will be in place throughout May and will make the operations more attractive to a purchaser'.

Mayflower was forced into administration after a series of profit warnings and the discovery of a £20m hole in its accounts. Deloitte has already axed more than 300 jobs as it attempts to salvage viable parts of the business.

Several parties have expressed an interest in TransBus, which is 30% owned by Henlys (unchanged at 13 3/4p).

Scottish investment bank Noble & Company is putting together a rescue package. The aim is to safeguard some 900 jobs.