Wrightbus
Wrightbus
M
(25 Sep 2019, 2:19 pm)streetdeckfan
I honestly think this is the end for Wrightbus, at least as it is now.
After doing a bit more research and seeing what has came up in the news after this, I wouldn't touch it.
The fact that they made a £4 million donation to a charity run by the owner's son which caused them to make a loss of nearly £2 million.
The same son also happens to own the land and factory, which Wrightbus rent for £1.5 million a year.
It all smells of tax evasion and fraud to me.
Founder’s son, Jeff Wright. The founder (Jeff’s father) now has/had no shareholding in Wrightbus Paster Jeff has/had majority control over Wrightbus, it’s parent company, the property company charging disproportionate rent and the founder of Greener Pastures Church.
It’s fair to say Jeff Wright likes having money, but wasn’t particularly interested in the business of building buses.
Suppliers will be preferential creditors over customers, that’s if there isn’t already charges over remaining assets of Wrightbus. As it stands GNE have little chance of seeing either the buses or deposits paid so far and if/when Wrightbus ceases to exist they have no chance.
Any company picking up pieces of Wrightbus would have no obligation to fulfil outstanding orders.
M
(25 Sep 2019, 2:19 pm)streetdeckfan
I honestly think this is the end for Wrightbus, at least as it is now.
After doing a bit more research and seeing what has came up in the news after this, I wouldn't touch it.
The fact that they made a £4 million donation to a charity run by the owner's son which caused them to make a loss of nearly £2 million.
The same son also happens to own the land and factory, which Wrightbus rent for £1.5 million a year.
It all smells of tax evasion and fraud to me.
Founder’s son, Jeff Wright. The founder (Jeff’s father) now has/had no shareholding in Wrightbus Paster Jeff has/had majority control over Wrightbus, it’s parent company, the property company charging disproportionate rent and the founder of Greener Pastures Church.
It’s fair to say Jeff Wright likes having money, but wasn’t particularly interested in the business of building buses.
Suppliers will be preferential creditors over customers, that’s if there isn’t already charges over remaining assets of Wrightbus. As it stands GNE have little chance of seeing either the buses or deposits paid so far and if/when Wrightbus ceases to exist they have no chance.
Any company picking up pieces of Wrightbus would have no obligation to fulfil outstanding orders.
