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GCT buyout fails
15th March 1990, Page 23
15th March 1990
Page 23
Page 23, 15th March 1990
— GCT buyout fails
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• Employees of Grimsby Cleethorpes Transport have been told that their proposed buyout is a non-starter. The borough councils of Grimsby and Cleethorpes, which are the majority shareholders of the company, have decided that they are happy with the existing level of service and have resolved to hold on to the company "for business reasons".
Last year the two councils hired consultants Coopers & Lybrand to examine the pros and cons of selling the operation, and having decided to hang on to GCT, its owners are investing in new vehicles.
The latest additions to the 130-vehicle fleet are a trio of 78-seat, Alexander-bodied Dennis Dominator buses.