A large number of employees face losing their jobs as the last UK-owned bus manufacturer begins the insolvency process.
Around 1,400 staff are believed to be employed by the firm, which is best known for building the 'Boris Bus' Routemaster, when now Prime Minister Boris Johnson was the Mayor of London.
TUV Leader and local MLA Jim Allister said the loss of Wrightbus will "rip the heart out of Ballymena".
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In a statement released this morning, Mr Allister said: "The impending administration of Wrightbus is devastating news not just for the employees of Wrightbus but the wider North Antrim community and supply chain. My heart goes out to the hundreds with no wage packet this week or job hereafter.
"For decades Wrightbus has been a constant and provider of thousands of jobs. Amidst the sadness of today I want to salute Sir William Wright for the vision and commitment which he brought in building up this company and providing good income for so many. He did not deserve this tragic outcome.
"However, Wrightbus has a great product. The combined efforts of us all must be to ensure that it does not become a fading memory but obtains a flourishing new beginning."
Directors of the company have been seeking an investor for a number of weeks, however talks with two potential buyers failed to reach a conclusion last week.
Managers are due to brief unions later this morning.
(JG/CM)
