Fung Wah Bus Shutting Down For Good, Owner Says

BOSTON (CBS) -- The owner of the Fung Wah bus company says he's shutting down his business for good.

In 2013, inspectors found multiple equipment and engine problems on Fung Wah buses. An I-Team report prompted federal officials to stop the company from operating.

Fung Wah also lost its gates at South Station.

The company provided low-cost service between Boston and New York City and was popular among college students.

The owner told The Boston Herald that the company can no longer stay financially afloat.