NORTHERN Irish businessman Darren Donnelly has ended his interest in buying troubled Ballymena bus-maker Wrightbus.
Mr Donnelly sold the Toomebridge manufacturing firm SDC Trailers to the Chinese group CIMC Vehicles in 2016 in a deal believed to be worth around £100m. In a statement issued over the weekend, he confirmed he was one of a number of interested parties involved in discussions to potentially purchase Wrightbus.
The Ballymena company, which employs around 1,400 people, confirmed in July that it was actively seeking investors to address cash flow problems.
On Saturday Mr Donnelly said his advisers had initiated due diligence on the Ballymena company.
But yesterday afternoon, a spokesperson issued a follow-up statement
It said: “Whilst discussions had been ongoing over the past number of weeks, Mr Donnelly has confirmed that he has withdrawn from the process and is no longer pursuing the potential purchase of the Wrightbus company.”
Responding to Mr Donnelly’s announcement, a spokesperson for Wrightbus said: “We are now in advanced discussions with a limited number of investors.
"We are optimistic and are working hard towards getting the best possible outcome for the skilled workforce we have in Ballymena, UK mainland and Ireland and our international territories.
“Wrights Group is world class and recognised for the technology it brings to the marketplace.
“We will ensure that staff are kept informed throughout this process. Due to the commercial nature of these final discussions, we are unable to comment further until the process is completed. “
In July, North Antrim DUP MP asked UK Prime Minister Boris Johnson to “step in and save the company”.
As Mayor of London, Mr Johnson ordered a total of 1,000 Routemaster buses from Wrightbus.
Speaking in the House of Commons, the Prime Minster said: “I give my assurance, we will do everything we can to ensure the future of that great UK company."
Sky News has cited sources indicating that if a rescue deal cannot be concluded by the end of this week, administrators could be called in to Wrightbus.
Weichai, a subsidiary of the Chinese company Shandong Heavy Industry, has also been linked to a potential investment in the busmaker.
