King Brothers (bus operator) explained
| King Brothers |
| Company Slogan: | World Class |
| Parent: | Peter & Tony King |
| Commenced: | 1924 |
| Ceased: | 2003 |
| Headquarters: | Kempsey |
| Service Area: | Mid North Coast |
| Service Type: | Bus services |
| Depots: | 11 |
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.
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.
Notes and References
- 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
- https://web.archive.org/web/20010712195511/http://homepages.ihug.com.au/~kc3302/kingbros.htm King Brothers
- http://fleetlists.busaustralia.com/nsw.php?info=CHB Coffs harbour Bus Lines
- http://fleetlists.busaustralia.com/nsw.php?info=GLY Glynn's, Grafton
- http://fleetlists.busaustralia.com/nsw.php?info=GBC Grafton Bus Co
- http://fleetlists.busaustralia.com/nsw.php?info=GYB Grafton - Yamba Bus Service
- http://fleetlists.busaustralia.com/nsw.php?info=GLC Great Lakes Coaches
- http://fleetlists.busaustralia.com/nsw.php?info=JOY Joyce Valley Link
- http://fleetlists.busaustralia.com/nsw.php?info=NEM Newman's Bus Service
- http://fleetlists.busaustralia.com/nsw.php?info=PEL Pell's Bus Service
- http://fleetlists.busaustralia.com/nsw.php?info=POM Port Macquarie Bus Service
- http://fleetlists.busaustralia.com/nsw.php?info=SON Sonter's Bus Service
- http://www.busnews.com.au/news/industry/0809/king-brothers-to-be-sentenced-over-nab-fraud/ King brothers to be sentenced over NAB fraud
- http://www.busnews.com.au/news/industry/0809/king-gets-nine-months-more/ King gets nine months more
- http://www.smh.com.au/articles/2003/06/05/1054700340772.html The curious case of the 300 buses that never were
- http://www.abc.net.au/news/2005-10-10/king-brothers-to-stand-trial-on-bank-fraud/2121262 King Brothers to stand trial on bank fraud
- http://www.theaustralian.com.au/business/one-of-brothers-behind-failed-bus-firm-guilty-of-44m-fraud/story-e6frg8zx-1111112232331 One of brothers behind failed bus firm guilty of $44m fraud
- http://www.abc.net.au/news/2008-09-15/king-brothers-to-be-sentenced-seperately-over-nab/511002 King brothers to be sentenced separately over NAB fraud
- http://www.abc.net.au/news/2003-09-24/bus-firm-buys-failed-king-bros-business/1482972 Bus firm buys failed King Bros business
- King Bros Group Australian Bus Panorama issue 16/4 February 2001 page 44
