South Yorkshire bus firm Tates Travel has been put into administration, with all 62 staff losing their jobs.
Bob Maxwell and Andrew Mackenzie, of Begbies Traynor, have been appointed joint administrators of Tates Travel.
The Barnsley-based firm, one of the largest privately owned bus companies in the region, started in 2003 and had a fleet of 50 vehicles.
It operated a number of bus services centred on the Barnsley and Rotherham areas, with services radiating out to Doncaster, Meadowhall, Dewsbury, Morley and Wakefield and also operated a number of school contracts.
The company ceased trading on February 9, with all 62 staff being made redundant.
Joint administrator Andrew Mackenzie said: “Unfortunately, the business proved unable to cope with excessive finance costs. It is, however, good news that all school runs have now been taken care of and we have been able to minimise any disruption to passengers.
“We are now in the process of dealing with the company’s affairs.”