Pembrokeshire County Council is awaiting news on the future of a long standing company that operates many of its school buses.

Silcox, based in Pembroke Dock, is searching for a buyer after suffering financial difficulties.

The company employs around 100 people.

Letters explaining the situation have been sent to staff by Wilson Field, a company specialising in Business Recovery, Insolvency and Financial Solutions.

The Western Telegraph has obtained a copy of the letter.

It states: "The Company has suffered financial difficulties in recent times which has culminated in the directors attempting to source a buyer for the business."

It adds that interest from a principal buyer fell through on Friday, May 20.

The company protected itself from creditors by filing a notice of intention to appoint administrators at court.

That does not mean that the company is in administration, however.

The notice of intention has given the company breathing space of 10 business days to explore all options and seek a buyer.

The letter adds that the business is actively being marketed and negotiations opened with parties who have previously expressed an interest in the business.

"We are encouraged that there is a strong prospect that a buyer can be found for the business who can continue to operate in the area, going forward."

The Western Telegraph contacted Silcox for comment on Friday but has not yet received comment.

Western Telegraph:

Pembrokeshire County Council told the Western Telegraph: "Pembrokeshire County Council has contracts with the Silcox Motor Coach Company Limited to provide educational transport on behalf of the Authority.

"The Council also subsidises some of the commercial routes on which the company operates.

"At this time, Silcox continues to operate and the Council will continue to pay the company for the work it is carrying out in accordance with our contractual obligations.

"We are aware of a possible restructuring of the company and we will work with all interested parties.

"We anticipate a clearer picture of the situation emerging next week."

A source has told the Western Telegraph that other bus companies have been approached about the possibility of providing school transport should the worst happen to Silcox.

As schools have now gone into half term there is extra time for the situation to be resolved before any potential impact on school bus services.

The Silcox website states: "Since 1932 Silcox has operated bus services around Pembrokeshire. In 1960 the current official name, Silcox Motor Coach Company Ltd was adopted.

"Today Silcox Coaches deals solely with buses and coaches.

"Silcox Coaches has continued to increase its involvement in the coach touring industry. As well as operating its own coach tour programme, it provides vehicles for a number of other companies.

"One of the main suppliers of coaches for local sporting teams, school transport as well as local bus services, Silcox Coaches is very much a thriving local business, providing a large amount of work opportunities for the community.

"With so much going on, Silcox Coaches is well placed to remain a driving force in Pembrokeshire for many more years to come."