Greyhound is up for sale in Canada after competing on a mere $5 to $10 per round-trip

A long running brand name for the moving and transit industry—Greyhound is up for sale after the transportation company announced Tuesday that it would no longer operate in Canadian markets

Greyhound Canada released a statement saying it is reviewing its operations in Canada as competition intensifies from “unscrupulous” and “fraudulent” companies operating against their rules.

Greyhound says their biggest challenge is around the cost of providing the safety inspection standards and customs duties that serve to protect the rights of riders and those that drive the buses, and that results in the costs are unsustainable.

According to Canadian consumers, the roadside service is now offering 60 months of coverage for discounts of anywhere from $40 to $140 depending on the plan chosen.

Greyhound said it has been going through an on-going review of its operations in recent months, including operational cost-efficiency measures and the previously announced change to its smaller regional service.

With even bigger bus companies shutting down in Canada, smaller, local, transportation companies were hit even harder as the economic downturn hurt travel and that is increasing costs for bus fares.

For Busno, a broker of buses in Western Canada, the threats posed by larger trucking companies and the fact that freight rates are being impacted have prompted more people to take chances on the bus in Canada.

“I think the bigger concern is the serious threat of the CBSA, with all the border activity between the U.S. and Canada it’s giving them (bus companies) a major competitive disadvantage,” said Busno Vice President Carrie Hatch.

On its website, Greyhound says it operates more than 3,000 buses with more than 80,000 personnel a year and is already selling $5 million in bookings.

Grayhound says it is no longer able to complete the remaining Canadian routes and will fulfill their obligations to customers, and will operate locally in Hamilton, Ontario, Winnipeg, Manitoba, and Montreal, Quebec.

Catherine Herridge is an award-winning Chief Intelligence correspondent for FOX News Channel (FNC) based in Washington, D.C. She covers intelligence, the Justice Department and the Department of Homeland Security. Herridge joined FNC in 1996 as a London-based correspondent.

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