School bus operator Atlantic Express files for bankruptcy

Reuters

Nov 4 (Reuters) - School bus operator Atlantic ExpressTransportation Corp filed for chapter 11 bankruptcy protectionlate on Monday, a court filing showed.

New York-based Atlantic Express listed out estimatedliabilities and assets of $100 million to $500 million.

Atlantic Express, founded in 1964 with 16 vans, operates afleet that ranges from sedans and wagons to a variety of schoolbuses and luxury coaches.

Two funds of Wayzata Investment Partners, a private equityfirm that specializes in purchasing distressed companies andassets, own about 63 percent of Atlantic Express, according tothe filing.

Besides the company, 39 of its affiliates also concurrentlyfiled for bankruptcy protection.

The case is Atlantic Express Transportation Corp, Case No.13-13598, U.S. Bankruptcy Court, Southern District of New York.

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