King Brothers was an Australian bus company operating route and school services in the Mid North Coast region of New South Wales. It collapsed in April 2003 with debts of $220 million, after owners Peter and Tony King were charged with and later convicted of fraud.
 | |
| Parent | Peter & Tony King |
|---|---|
| Commenced operation | 1924 |
| Ceased operation | 2003 |
| Headquarters | Kempsey |
| Service area | Mid North Coast |
| Service type | Bus services |
| Depots | 11 |
History
editJ&L King was a small family bus operator with route and school services between Kempsey and Crescent Head. It also operated a used bus dealership. In February 1991 it purchased the school services of Argent's.[1] At some stage it operated a Port Macquarie to Tamworth service that was sold in 1996.[2]
After control passed to twin sons Tony and Peter, in the late 1990s / early 2000s King Brothers expanded rapidly with the acquisition of a number of operators in the Great Lakes and Mid North Coast regions including:[3]
- Coffs Harbour Bus Lines[4]
- Glynn's, Grafton[5]
- Grafton Bus Co[6]
- Grafton-Yamba Bus Service[7]
- Great Lakes Coaches, Bulahdelah & Heatherbrae[8]
- Joyce Valley Link, Urunga[9]
- Newman's Bus Service, Macksville[10]
- Pell's Bus Service, Nambucca Heads[11]
- Port Macquarie Bus Service[12]
- Sonter's Bus Service, Laurieton[13]
The business was put up for sale however in April 2003 the business collapsed with debts of $220 million after the owners were charged with, and later convicted of, having defrauded the National Australia Bank and Toyota Financial Services by selling and leasing back fictitious buses.[14][15][16][17][18][19] The operation was sold by its administrator to Busways in September 2003.[20]
Fleet
editPrior to the expansion of the late 1990s, King's fleet turned over regularly as buses were run in and out of the fleet in quick succession as part of its dealership activities. After the acquisitions it purchased over 60 new Mercedes-Benz and Renaults in 1999/2000.[21] A silver with light green and pink livery was adopted.
References
edit- ^ Town of the Month - Kempsey NSW Australian Bus Panorama issue 9/7 March 1994 page 16
- ^ King Australian Bus Panorama issue 12/2 October 1996 page 58
- ^ King Brothers Australian Bus Fleet Lists
- ^ Coffs harbour Bus Lines Australian Bus Fleet Lists
- ^ Glynn's, Grafton Australian Bus Fleet Lists
- ^ Grafton Bus Co Australian Bus Fleet Lists
- ^ Grafton - Yamba Bus Service Australian Bus Fleet Lists
- ^ Great Lakes Coaches Australian Bus Fleet Lists
- ^ Joyce Valley Link Australian Bus Fleet Lists
- ^ Newman's Bus Service Australian Bus Fleet Lists
- ^ Pell's Bus Service Australian Bus Fleet Lists
- ^ Port Macquarie Bus Service Australian Bus Fleet Lists
- ^ Sonter's Bus Service Australian Bus Fleet Lists
- ^ King brothers to be sentenced over NAB fraud Australasian Bus & Coach 16 September 2008
- ^ King gets nine months more Australasian Bus & Coach 23 September 2008
- ^ The curious case of the 300 buses that never were Sydney Morning Herald 6 June 2003
- ^ King Brothers to stand trial on bank fraud ABC News 10 October 2005
- ^ One of brothers behind failed bus firm guilty of $44m fraud The Australian 19 September 2006
- ^ King brothers to be sentenced separately over NAB fraud ABC News 15 September 2008
- ^ Bus firm buys failed King Bros business ABC News 24 September 2003
- ^ King Bros Group Australian Bus Panorama issue 16/4 February 2001 page 44