South Yorkshire coach company Tates Travel Limited has been placed into administration with all 62 members of staff being made redundant.
Bob Maxwell and Andrew Mackenzie of Begbies Traynor were appointed as joint administrators the Barnsley-based firm on February 11.
The company was founded in 2003 and had a fleet of around 50 vehicles. It operated a number of bus services in the Barnsley and Rotherham areas, with services radiating out to Doncaster, Meadowhall, Dewsbury, Morley and Wakefield. It operated a number of school contracts in the region.
The company ceased trading on February 9. Begbies Traynor has liaised with the relevant local authorities in South and West Yorkshire to ensure an ongoing service for all of Tates Travel’s bus routes.
Joint administrator Andrew Mackenzie said: “Unfortunately, the business proved unable to cope with excessive finance costs.
“It is, however, good news that all school runs have now been taken care of and we have been able to minimise any disruption to passengers.
“We are now in the process of dealing with the company’s affairs.”