It has emerged that Darren Donnelly has pulled out of talks to buy Ballymena firm Wrightbus.
The Ballymena firm was hoping that talks between the two parties would save the business from administration, but this latest news is not good.
A spokesperson for Mr Donnelly has 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“Whilst discussions had been ongoing over the past number of weeks, Mr Donnelly has confirmed that he has withdrawn from the process and is no longer pursuing the potential purchase of the Wrightbus company.”
An earlier statement today from 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, 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.”
BUT this latest development will put into question the 1400 jobs that may now be risk, should the Co Antrim firm fail to find another investor.
Some of the workers were called in earlier to a meeting to update them, having previously heard news secondhand that was leaked.