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Loss closes Low's

19th July 1990, Page 14
19th July 1990
Page 14
Page 14, 19th July 1990 — Loss closes Low's
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Which of the following most accurately describes the problem?

• A long-established Scottish bus company is to close at the end of September because it has lost the local authority contracts that provided most of its revenue.

Low's of Tomintoul, which has been in business for more than 50 years, failed to secure Grampian Region contracts worth £80,000 a year, and managing director Richard Carr says that this has "forced them out of existence". When the tenders were first advertised Low's was the only bidder, but Grampian decided to put them up for re-tender, which resulted in the tenders being awarded elsewhere. The company's closure means eight local jobs will be lost,