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AJS sells remaining bus firms

8th August 1991, Page 16
8th August 1991
Page 16
Page 16, 8th August 1991 — AJS sells remaining bus firms
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Which of the following most accurately describes the problem?

• The AJS Group of Harrogate has sold seven of its remaining eight bus firms to two of its former directors for over 2,2m.

They will run the operations under the Blazefield Holdings banner. Former group services director Giles Fearnley is Blaze field's managing director; Stuart Wilde keeps his role as finance director.

The deal includes 300 vehicles, 12 depots and 800 staff at Keighley & District, Harrogate & District, Yorkshire Coastliner Harrogate Independent Travel, Sovereign Bus & Coach, Welwyn Hatfield Line and Sovereign Harrow. Blazefield Holdings will be based in Keighley.

A1S's final PCV company, 18vehicle Cambridge Coach Services, will be run by Blazefield until AJS chairman Alan Stevenson finds a buyer.

Stevenson retains a 25% investment in the Blazefield companies, which will have a turnover of nearly Mtn. He also owns four bus depots which are on lease to Blazefield.

The AJS Group was set up three years ago when Stevenson bought West Yorkshire Road Car of Harrogate and London Country North East from the National Bus Company.

AJS is now a non-trading group, but at its peak it included 14 operations, 17 support companies and 1,000 vehicles, turning over £45m a year and valued at £5.5m.

Stevenson started to dispose of companies in 1989 when he sold West Yorkshire Road Car.

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