Transportation
Bus Carrier Coach USA Goes Bankrupt After Ridership Drops
- Company couldn’t recover from ridership plunge during pandemic
- Proposed asset sales include Megabus business, other lines
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Bus company Coach USA, owner of the Megabus brand and commuter bus lines connecting New York and New Jersey, filed for bankruptcy, saying it was unable to recover from a decline in ridership brought on by the pandemic.
The company owes creditors between $100 and $500 million, according to its Chapter 11 petition filed Tuesday in Wilmington, Delaware. Chapter 11 of the US Bankruptcy Code is designed to allow companies to keep operating while they shed debt and reorganize.