AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

Crosskeys PSV bid is rejected

21st June 1990, Page 26
21st June 1990
Page 26
Page 26, 21st June 1990 — Crosskeys PSV bid is rejected
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

Keywords : Business / Finance

• A bid for a new 20-vehicle PSV licence by Crosskeys Coach Hire, trading as Glyn Williams Travel, has been turned down by South Wales Traffic Commissioner John Mervyn Pugh_ The company's nominated transport manager, Ian Evans, told a Cardiff public inquiry that it had been set up with loan capital and 20 vehicles were needed to service that loan. Evans said there was ,100,000 on deposit, but asked for the rest of the financial evidence to be heard in private.

He denied that the company

was a "front" in case Glyn Williams, who also trades as Glyn Williams Travel, lost his licence at pending disciplinary proceedings. He said that though Williams initially had a 50% share. holding, he no longer had any interest in the company. Glyn Williams was no longer interested in private hire and tour operation, wishing only to continue with local service operation. Williams had no objection to the company using the name Glyn Williams Travel.

Mervyn Pugh said he was not satisfied about the company's financial standing.

He also had doubts about the future of the bank deposit and was far from satisfied about the maintenance arrangements, which were vague.

Mervyn Pugh said he found it extraordinary that Glyn Williams, while holding a licence for a business trading in a similar name, should lend his name to a new company that had nothing to do with him.

Tags

Locations: Cardiff