LCT management
9th August 1990, Page 17
9th August 1990
Page 17
Page 17, 9th August 1990
— LCT management
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buyout rejected
• Municipal operator Lincoln City Transport could soon be on the open market after the city council rejected a proposal to sell the company to its management team.
The council has already agreed to sell "on the best possible terms", but has now decided to consider other bids for the 60-strong bus operator.
LCI lost 2700,000 in the last trading year and is in stiff competition with Lincolnshire Road Car on city routes.
The council's chief executive recommended the bid from the management team, headed by managing director Peter Townley.