One of the UK's main bus manufacturers is poised to go into administration, an MP 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.
DUP MP Ian Paisley confirmed the administration process will begin on Wednesday.
He 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.
Stormont Assembly member Jim 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."
Wrightbus has been a hugely profitable company in the past and based its business model on producing low-emissions vehicles.
When Mr 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 .
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