Complex sentence: In 1987, National Welsh was sold to its management, which struggled to make a profit, and, in early 1992, was placed into receivership-the main example of a failed bus privatisation.
Split into simpler sentences: In 1987, National Welsh was sold to its management. However, the company struggled to make a profit, and, in early 1992, was placed in receivership-the main example of a failed bus privatisation.