Employing around 1,500 people, Wrightbus built London’s distinctive red Routemaster buses when Boris Johnson was mayor of the capital.

One of the UK’s main bus manufacturers is poised to go into imminent administration, an MP has said.

Wrightbus built London’s distinctive red double decker Routemaster buses when Boris Johnson was mayor of the capital and reportedly employs around 1,500 people.

It is one of Northern Ireland’s largest employers and its loss would be a major blow in the same week as travel firm Thomas Cook’s collapse, causing the largest ever peace time repatriation project.

DUP MP Ian Paisley said unions were being briefed by managers on Wednesday morning.

He told the BBC: “Essentially from this point the administrator has a week to find a buyer.”

The North Antrim firm has been seeking investment or a new owner as it struggles with cash problems.

Wrightbus has been a hugely profitable company in the past and based its business model on producing low-emissions vehicles.

When Johnson was mayor he announced a lucrative order to produce the capital’s latest fleet of buses.

Wrightbus founder William Wright has been a prominent supporter of Brexit and the DUP.

Northern Ireland’s manufacturing industry has been under pressure in recent years with the slumping into administration of Harland and Wolff shipyard in Belfast.

Michelin Tyres and Gallaher’s Tobacco firms have also closed in Ballymena.