COACH USA has voluntarily filed for bankruptcy after ridership remained low following the pandemic - but customers' tickets will still be valid. The company - which owns Megabus and two dozen other companies - filed for Chapter 11 bankruptcy on June 11 in the District of Delaware after racking up hundreds of millions in debt, according to court documents viewed by The U.S.
Sun. Coach USA said in a press release that the voluntary filing was used to "facilitate sale processes to preserve jobs, ensure continued service and maximize the value of its businesses" as it still struggles to get ridership up since the pandemic. "As we move through this process, 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," Coach USA CEO, Derrick Waters, said in a statement.
The bus company said there will be "uninterrupted passenger transportation" while the bankruptcy proceedings are going on. "The company is operating as normal and remains focused on operating safely and serving customers in the United States and Canada," it said in a statement. To further quell customers' worries, the company wrote on X, formerly known as Twitter, "Megabus is serving our passengers as normal and without interruption today, tomorrow, and beyond.
" The company has entered three different sales agreements, including with an affiliate of The Renco Group, Inc., Bus Company Holdi.
