The owners of Wrightbus, the Wright family, issue a statement following the news the firm has gone into administration.
Speaking to the media, the Wright family have said;
“We are devastated at the news today that the company has been placed in administration by the bank.
“Global changes from diesel to electric in bus technology have caused a sharp decline in demand for buses in the UK.
“As a shortfall became apparent, one of the steps taken was to move work from our Malaysia facility back to Ballymena to secure jobs here.
“These factors have resulted in significant losses at Wrightbus which our family has been covering for over a year.
“This was undertaken to both protect the workforce and the engineering expertise in the company.
“It simply became impossible to sustain that level of support.
“We have worked hard to support the restructuring team based in Wrightbus, and we are confident that a buyer for the business can still be found.
“Since it was established in 1946 from a tin shed, Wrightbus has become a world leader in bus manufacture and technology, employing tens of thousands of people.
“The company has built a culture and tradition of expertise and innovation in the Ballymena area which is recognised across the globe.
“The production of the world-famous London Routemaster is just one example of the many achievements of the firm and we are hopeful that a new buyer will be found and that work at the factory can continue.”