By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
routeonerouteonerouteone
  • News
    • Show all
    • Awards & Events
    • Deliveries
    • Environment
    • Exhibitor News
    • Euro Bus Expo 2024
    • Features
    • Legal
    • Minibus and minicoach
    • Operators
    • Opinion
    • People
    • Suppliers
    • Vehicles
  • Vehicles
    • Find a Vehicle
    • ZEV Comparison Tool
    • Sell a Vehicle
    • Vehicle Seller Dashboard
  • Insights
  • Careers
  • Events
    • British Tourism & Travel Show
    • Euro Bus Expo
    • Innovation Challenge
    • Livery Competition
    • routeone Awards
  • Advertise
  • Contact
    • Share your news
    • Subscribe
    • Update Subscription Details
  • Latest Issue
  • SIGN UP
Search
© 2024 routeone News. All Rights Reserved.
Reading: Mellor and Treka Bus parent files notice to appoint administrator
Share
Font ResizerAa
routeonerouteone
Font ResizerAa
Search
  • News
    • Show all
    • Awards & Events
    • Deliveries
    • Environment
    • Exhibitor News
    • Euro Bus Expo 2024
    • Features
    • Legal
    • Minibus and minicoach
    • Operators
    • Opinion
    • People
    • Suppliers
    • Vehicles
  • Vehicles
    • Find a Vehicle
    • ZEV Comparison Tool
    • Sell a Vehicle
    • Vehicle Seller Dashboard
  • Insights
  • Careers
  • Events
    • British Tourism & Travel Show
    • Euro Bus Expo
    • Innovation Challenge
    • Livery Competition
    • routeone Awards
  • Advertise
  • Contact
    • Share your news
    • Subscribe
    • Update Subscription Details
  • Latest Issue
  • SIGN UP
Follow US
© 2024 routeone News | Powered by Diversified Business Communications UK Ltd
- Advertisement -
-
routeone > Bus > Mellor and Treka Bus parent files notice to appoint administrator
BusNewsOperatorsTop StoryVehicles

Mellor and Treka Bus parent files notice to appoint administrator

Tim Deakin
Tim Deakin
Published: November 17, 2023
Share
Mellor and Treka Bus parent files notice to appoint administrator
SHARE

Note: Since this story was published, administrator appointments have been made at WN V-Tech Holdings Limited and its subsidiaries including Treka Bus Ltd and WN V-Tech Ltd, which uses Mellor as a trading name.

Mellor and Treka Bus parent WN V-Tech Holdings has filed notice to appoint an administrator, private equity owner Rutland Partners has confirmed.

A sale process for the business is now underway by advisory firm Teneo. A spokesperson for Rutland says that Teneo is “actively engaged with a number of parties that have expressed interest in the whole and parts” of WN V-Tech Holdings, and that “all efforts are being put into bringing this process to a successful conclusion.”

It is understood that potential administrators arrived at Treka Bus’s plant in Brighouse on 16 November. Completed vehicles are on the locked-down site. The previous day, a number of employees with WN V-Tech in Scarborough are said to have approached another vehicle manufacturer in the town in search of work.

WN V-Tech Holdings CEO Frank Barrett remains with the group, Rutland has confirmed. The business’s most recent accounts, for the year to 31 December 2022, show a loss after tax of £2.6 million on a turnover of £78 million.

The year closed with a record order book in hand. £4.9 million was spent on product development during 2022, much of which is understood to have been absorbed by the Mellor Sigma range of battery-electric buses. No material uncertainties relating to the going concern consideration were identified by the independent auditor.

Mellor is a trading name of WN V-Tech Ltd, a subsidiary of WN V-Tech Holdings. WN V-Tech Ltd, including its car division, recorded a loss after tax of £3.6 million on a turnover of £45.5 million in 2022.

Treka Bus – ultimately a subsidiary of WN V-Tech Holdings Ltd – recorded a profit after tax of £609,000 on a turnover of £11.7 million, although the latter figure was less than half of the 2021 turnover. Difficulties in base vehicle supply has been cited as a contributor to that decline.

Rutland Partners took a controlling interest WN V-Tech Holdings in March 2020. It noted then that the step “an exciting opportunity for Rutland to invest in a scale UK business operating in sectors likely to be robust and the focus of long-term stability and interest.” Rutland invests in businesses requiring £10-50 million of equity, its website states.

At that time, Mr Barrett described Rutland as “the perfect partner on the next stage of our journey,” adding that sustained investment was expected under its ownership. Since then, major growth for the Mellor brand has been achieved, while Treka Bus has continued to build accessible minibuses.

Share This Article
Facebook LinkedIn Threads Email Copy Link
ByTim Deakin
Tim is Editor of routeone and has worked in both the coach and bus and haulage industries.
Previous Article Abellio London orders 80 Wrightbus electric buses Abellio London orders 80 more Wrightbus battery-electrics
Next Article What is key to being a successful coach operator? And the key to being a successful coach operator is…
- Advertisement -

Latest News

Five destinations added to CPT Coach Friendly list during National Coach Week
Five destinations named ‘Coach Friendly’ in National Coach Week
Coach
UKCOA initiative supports the fight against terrorism
UKCOA links with security agency in fight against terrorism
Coach
Bay Travel begins Accessible Information Regulations coach compliance
Bay Travel starts Accessible Information Regulations coach rollout
News
HVO price fall in April fails to match fossil diesel pace
HVO price fall in April fails to keep pace with fossil diesel drop
Suppliers
- Advertisement -
-

routeone magazine is the indispensable resource for professional UK coach, bus and minibus operators. The home of vehicle sales and the latest bus and coach job vacancies, routeone connects professional PCV operators with complete and unrivalled news coverage.

  • Terms & Conditions
  • Privacy Policy
  • GDPR Policy
  • Sustainability
  • Advertise
  • Latest Issue
  • Share Your News
routeonerouteone
Follow US
© 2024 routeone News | Powered by Diversified Business Communications UK Ltd