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Swindon announces plans to sell off its bus services
Swindon Borough Council has agreed to sell its share of Thamesdown Transport Limited to the private company Go South Coast.
The council said that the decision was made to ensure that it had a ’sustainable future’, having been one of the few local authorities in the country to still own a local bus company. Following a competitive process, Go South Coast’s bid was assessed as offering the best value to the council, which wholly owns the company.
Despite continued financial support from the council, the bus company has incurred losses over the past five years due to difficult trading conditions.
Council leader David Renard said: “The council is operating in a really challenging financial climate at the moment and we do not have the resources to continue to support Thamesdown Transport as we have been doing in recent years. We have had to change the way we provide services across the council while balancing the ever increasing demand on adults’ and children’s services.”
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