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King Brothers (bus operator)

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King Brothers (bus operator)

King Brothers
Parent Peter & Tony King
Ceased operation 2003
Headquarters Kempsey
Service area Great Lakes
Mid North Coast
Service type Bus services
Depots 11

King Brothers was an Australian bus company operating route and school services in the Great Lakes and Mid North Coast regions 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.

History

J&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]

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

Prior 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

  1. ^ "Town of the Month - Kempsey NSW" Australian Bus Panorama 9/7 March 1994 page 16
  2. ^ "King" Australian Bus Panorama 12/2 October 1996 page 58
  3. ^ King Brothers Australian Bus Fleet Lists
  4. ^ Coffs harbour Bus Lines Australian Bus Fleet Lists
  5. ^ Glynn's, Grafton Australian Bus Fleet Lists
  6. ^ Grafton Bus Co Australian Bus Fleet Lists
  7. ^ Grafton - Yamba Bus Service Australian Bus Fleet Lists
  8. ^ Great Lakes Coaches Australian Bus Fleet Lists
  9. ^ Joyce Valley Link Australian Bus Fleet Lists
  10. ^ Newman's Bus Service Australian Bus Fleet Lists
  11. ^ Pell's Bus Service Australian Bus Fleet Lists
  12. ^ Port Macquarie Bus Service Australian Bus Fleet Lists
  13. ^ Sonter's Bus Service Australian Bus Fleet Lists
  14. ^ King brothers to be sentenced over NAB fraud Australian Bus & Coach 16 September 2008
  15. ^ King gets nine months more Australian Bus & Coach 23 September 2008
  16. ^ The curious case of the 300 buses that never were Sydney Morning Herald 6 June 2003
  17. ^ King Brothers to stand trial on bank fraud ABC News 10 October 2005
  18. ^ One of brothers behind failed bus firm guilty of $44m fraud The Australian 19 September 2006
  19. ^ King brothers to be sentenced separately over NAB fraud ABC News 15 September 2008
  20. ^ Bus firm buys failed King Bros business ABC News 24 September 2003
  21. ^ "King Bros Group" Australian Bus Panorama 16/4 February 2001 page 44
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