The largest privately-owned bus company in the country has announced they have filed for bankruptcy protection.

It's become a monthly occurrence recently as company after company finds themselves in bankruptcy court trying to save each respected company. Recently Red Lobster announced they would be closing hundreds of locations as they attempt to save the iconic seafood chain and now it appears that a big name in transportation is the next company in trouble.

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Coach USA Files for Bankruptcy

Last week one of the largest bus companies in the U.S., Coach USA filed for bankruptcy protection in Delaware and according to court papers the company is looking to sell its assets and get rid of debt it incurred during a 2019 private equity buyout. The bus company, which many Hudson Valley commuters use to get to New York City, saw bus ridership drop by 90 percent between 2019 and 2020, and although ridership has gone up since then it is still only about 45 percent of pre-pandemic levels as of 2023 according to Reuters.

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Coach USA, the parent company of Rockland Coaches and Shortline bus lines as well as Megabus, is facing higher interest rates and higher costs for fuel according to court papers. Coach USA CEO Derrick Waters said that the majority of their buses will continue to run as normal as the bankruptcy plays out in court.

"Our top priority remains safely carrying the millions of passengers who choose our buses each year and working closely with our valued contract customers and transportation agency partners."

 

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Currently, Coach USA operates over 2,000 buses in 27 locations across the U.S. and Canada and currently has approximately 2,700 employees. If the bankruptcy filing goes as expected Coach will be able to save 16 of its 25 business lines, and would save the jobs of approximately 2,100 Coach employees according to court documents.

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