Swindon
Borough Council has sold the municipal bus company Thamesdown Transport to Go Ahead South Coast.
From Swindon 24
Thamesdown Transport Limited has
been taken over by a major commercial bus operator after councillors agreed to
sell the Council’s shares in the
company.
The decision to sell the bus company to Go South Coast,
part of the Go Ahead Group, was taken at Wednesday night’s Cabinet meeting (1 Feb) and will ensure Thamesdown Transport
has a sustainable future.
The bus company has incurred
losses over the past five years due to difficult trading conditions, despite continued financial support from
the Council.
And with the Council also facing
challenging financial pressures of
its own, a review of the bus company concluded that the sale of Thamesdown
Transport to an established operator
would be in the best interest of council taxpayers, Thamesdown’s staff and its
customers.
Following a competitive process
Go South Coast’s bid was assessed as offering the best value to the Council,
which wholly owns the company. The offer from Go South Coast, the terms of
which are commercially confidential,
was for all the Council’s shares and the
freehold of Thamesdown’s Barnfield depot.
Cllr David Renard, Leader of
Swindon Borough Council, said: “We were
one of the few local authorities in the country to still own a local bus
company, but the Council is operating in a really challenging financial
climate at the moment and we do not have the resources to continue to support
Thamesdown Transport as we have been doing in recent years.
“We have had to change the way
we provide services across the Council while balancing the ever-increasing
demand on adults’ and children’s services.
“We believe this deal is in the
best interests of local bus users as it secures the financial sustainability of
the bus company, offers the best long-term security for Thamesdown Transport’s
employees, and will provide vital investment. Go South Coast’s expertise will
also ensure customers continue to benefit from a high-quality bus service.
“The Council will arrange a
joint meeting with Go South Coast and bus user groups in the coming weeks so
customers have the opportunity to learn about future investment plans and raise
any issues or concerns that they may have.”
Also,
checking up on Swindon Borough Council’s Agenda page for the 1st February meeting, the board papers for Thamesdown Transport have not been published
which shows that the agreement has been made behind closed doors - so I suggest
you should send a Freedom of Information request to Swindon Borough Council via
the What Do They Know website.
Here’s the
network map of Thamesdown Transport services.
As always, I
invite you to follow me on Twitter
and Google Plus which is @CLondoner92