AROUND 300 staff at Yellow Buses are waiting to hear what their future holds, as it was announced last night a buyer was not found for bus services.

Fifty jobs are saved after the administrators announced a "national operator" will buy the coach side of the business.

But the future remains uncertain for most staff at Yellow Buses, with hundreds expected to be made redundant.

Last night, Simon Rowe of accountancy firm Milsted Langdon said: “Whilst we are delighted that the proposed deal will save a significant number of jobs, it is hugely disappointing that we weren’t able to secure the remainder of the business and the jobs attached to it.  

Read more: All routes served by Yellow Buses to stop from tomorrow night

Bournemouth Echo:

“We have informed the staff of the position and I would like to thank all of them for their patience and understanding over the last few difficult days."

A new buyer has been found for the coach side of Yellow Buses, but there is no guarantee the buyer will employ all staff currently at Yellow Buses, meaning redundancies are possible. 

Employees’ pensions are also not protected as part of the new takeover. A buyer is not legally required to maintain existing pension arrangements. 

This could mean the existing final salary scheme could fall into the government’s pension protection fund, which would affect the value of the workers’ pensions. 

Unite, the union representing 200 workers at Yellow Buses, wishes to have urgent talks with the new owner. 

Read more: BCP MPs on Yellow Buses going into administration

Read more: Transport chiefs on Yellow Buses going into administration

Unite regional officer Janet Wall said: “The jobs and pensions of the workforce at Bournemouth Transport Ltd need to be fully protected.  

“The collapse of the company into administration is not the fault of the loyal and dedicated workforce and they should not be forced to pay the penalty for the company’s failings. 

“Unite is seeking an urgent meeting with any potential new buyer to secure cast iron guarantees on jobs and pensions and to understand its long-term plans for the operation.” 

Read more: Yellow Buses has gone into administration

The administrators are also responsible for the property rights in Yellow Buses’ licence. As reported yesterday, several routes are running on a reduced service. 

A spokesman for the Traffic Commissioner said: “The administrator must apply to the Traffic Commissioner if they want the licence to continue.  

“If the licence is continued the company can still trade whilst in administration and the bus services therefore remain valid and are expected to run.”