Passenger News
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End for T. E. Jones
ONE of Shropshire's best known groups of companies — the T. E. Jones group of Knockin, near Shrewsbury — has collapsed with the loss of nearly 250 jobs.
A liquidator has been appointed for the group, which includes two bus companies, Vaggs Coaches and Hampson's Luxury Coaches Ltd, and a road transport firm operated in the name of T. E. Jones. The man who founded the empire with a second-hand excavator and £350 in capital more than 15 years ago, Edward Jones, said he was given only a few days to reduce his overdraft by £200,000. "We did it, but that cleaned us out," he said.
He added: "I'm terribly disappointed for the people we employed. They worked hard and were a good staff. I did what I could to argue on their behalf but in the end I couldn't do any more."
Vaggs Coaches ran a number of scheduled services in northwest Shropshire as well as tours. The scheduled services — most of them subsidised — were taken over at short notice by National Bus Company concerns Midland Red and Crosville at the request of Shropshire County Council.
It was later reported that Hampsons Coaches had been taken over by Shropshire vehicle hire firm owner and funeral director R. C. Lunt. He was able to continue a service in Oswestry and has also taken over the luxury coach side of the business.
The new company will trade under the name Hampsons 82 subject to Mr Lunt getting permission to use the old title.
Eric Sheppard, the representative on the spot for the liquidators, Pitman and Cohen, London accountants, said about 500 creditors were affected by the collapse. He said a creditors' meeting had been arranged to be held in Birmingham on October 1.