Megabus owner Coach USA files for bankruptcy as ridership fails to recover from pandemic

Coach, the largest privately-owned bus company in the US, was acquired by private equity firm Variant Equity Advisors for $270 million, mostly using debt that is still on the company’s books. Coach quickly ran into trouble servicing its debt, as the COVID-19 pandemic caused bus ridership to decline by 90% from 2019 to 2020...