Chiltern Travel Ltd has been saved from closure by its former owner, Trevor Boorman.
Gary Hawkes returns to the business as Transport Manager.
The company, which now trades as Boorman Transport and operates 17 coaches and buses from its base in Bedford, had been sold by Mr Boorman to an Irish buyer two years ago. It was subsequently placed into administration on the application of an unsecured creditor to the High Court.
Midlands-based accountancy and business advisory firm Smith Cooper was brought in to trade the business in administration while seeking a buyer for the business and assets.
The administrators, Dean Nelson and Nick Lee of Smith Cooper, traded the business for an eight-day period while an accelerated sale and marketing process was undertaken, with a buyer being identified and a sale being successfully concluded on 22 May.
Director of Business Recovery and Insolvency, Michael Roome, says: â€œGiven the company’s excellent, long-standing reputation, dedicated workforce and comprehensive service offering, we were confident that once we were in situ a buyer could be found, provided that the business could be held together and continue to trade for a short period in administration. Thankfully, a suitable purchaser was found and we were able to complete quite a challenging transaction, saving 16 jobs, in the short window available. This has enabled the Chiltern Travel brand to continue trading, with its customers experiencing no issues or concerns in relation to the continuity of service and supply.â€
Rachel McCahill-Brown of Nelsons Solicitors acted on behalf of the administrators in relation to the sale of the business and assets, while Mark Stigwood of Attwaters Jameson Hill acted on behalf of the purchaser.