Sky News is reporting that Jo Bamford has entered exclusive talks about a transaction, two weeks after the Ballymena-based company was forced to appoint Deloitte as administrator.
They report: The move by Mr Bamford, a member of the JCB dynasty, who was among the bidders for Wrightbus before it plunged into insolvency proceedings, threatening 1,300 jobs, will raise hopes that the company has a viable future.
However, the completion of a rescue deal is understood to be contingent upon Mr Bamford reaching agreement with the member of the founding Wright family who owns the factory from which Wrightbus operates.
Negotiations over rental payments were among the major sticking points that prevented a deal being reached before Wrightbus called in administrators.
Sources said that unless Mr Bamford's vehicle and Jeff Wright, the factory's owner, could strike a deal, the latest rescue effort was also at risk of falling apart.
Deloitte is understood to be determined to resolve the company's future as quickly as possible, with future customer orders at risk.