Vehicle asset are merely £7,130.21 which could be the one vehicle that did not move on.
It may not even be a bus. There were various pool cars, plus they recently bought a van fitted out with toilet and kitchen facilities.
It would need someone more skilled than me to identify any financial causes, but it does include a lengthy list of "part B" creditors. To avoid the thread being closed, it would perhaps be sensible to stick to factual commentary rather than any guesswork or opinion.
Quite a long list, and it would suggest some businesses have been allowing debt to accrue for some time. Ticketer for example are owed a decent sum. Quite a lot of small local suppliers - which may explain something I heard towards the end. They were struggling to get an auto electrician to fix several vehicles. Maybe many suppliers refused to work with them after bills went unpaid?
One thing of note - £189k was owned to Baslow Properties. This will be linked to the depot as it's owned by the Eades family. It suggests that reports of the rent being peppercorn are incorrect, but also that they were very tolerant of rent not being paid.
No such information has yet been posted for the "Modeldart" holding company.
It's only Hulleys which have declared insolvency though. Modeldart was just a holding company
As an aside, I've heard a few things - which I won't repeat on here until they become public - which may indicate there is more to come out from this whole sorry saga.