First sells South Devon operation to Stagecoach

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Plymouth bus depot, Tavistock and Dartmouth outstations and 250 staff to transfer over

First South West has signed an agreement to sell its operations in South Devon to Stagecoach.

On completion of the sale, expected to conclude on September 6, 2015, the Plymouth bus depot, outstations at Tavistock and Dartmouth and around 250 staff will transfer to Stagecoach. First will continue to operate services up to and including September 5.
Giles Fearnley, Managing Director of First Bus, said: “In 2012 we launched our transformation plan which has seen great success in a huge number of our local businesses, as we reported at our full year results in June.

“We continue to see passenger and revenue growth across First Bus and we have a wide range of actions to be implemented throughout this year to further benefit our customers and maintain growth. However, despite the hard work and focus on our services in South Devon, we have not been able to make the progress we have sought and the business has underperformed over a number of years.
“I’m pleased we’ve negotiated an agreement to sell and therefore help protect jobs and key services.

“The sale does not, in any way, reflect the commitment of our employees in the area who have worked tirelessly to provide the best possible service to local communities. I’d like to thank them for their hard work and loyalty. We will be fully supporting them as they transfer to their new employer.
“We’re proud to have served the South Devon community and would like to thank customers for travelling with First South West over the years.”