BUS giants Stagecoach are poised to close a deal to buy struggling Hyndburn Transport, it was revealed today.

Busmen are reeling from the bombshell disclosure that Preston-based Stagecoach Ribble looks set to buy the whole of Hyndburn Council's bus operation.

Mr Michael Chambers, managing director of Stagecoach Ribble, said: " At this stage we have tabled an offer and agreement has been reached.

"I would expect that to proceed for completion early next week," he added.

Councillors will be recommended to accept the deal at a special meeting of Hyndburn policy and resources committee on Tuesday night. Mr Chambers said it was too early to comment on job security for the 120-strong workforce.

He said: "We would have to look at the business and evaluate the business.

"I can't give any assurances but neither do I want to start any hares running. "What is quite clear is that Hyndburn Transport as a company is in financial difficulties.

"We want to put it back in a healthy state.

"We would look to build on the services and the success of the services.

"We have put in an offer for a business that is not in a very healthy state. We believe we have the skills to turn a company which at this stage is not performing particularly well into a profitable one," he added.

Hyndburn Council chief executive Mike Chambers said he would present a report to the policy and resources committee immediately before a scheduled meeting of the full council, recommending acceptance of the Stagecoach offer.

He added: "I would expect to make some kind of statement following the council meeting but at the moment it would be inappropriate to talk about the terms.

"We still don't know the full implications because we are still in touch with Stagecoach ironing out those issues," he added.

Another offer for the council-owned bus operation remains on the table.

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