The dire financial plight of Llangollen Railway features in a short article in the latest edition of The Railway Magazine.
As the public limited company which ran it plunges into liquidation, the piece tells how the assets of the world-famous heritage line have gone up for sale to the highest bidder.
As one railway insider puts it: "The results of 40 years of endeavours to build up a railway are in the shopping basket."
The magazine article says: "Following the shocking March 1 statement from Llangollen Railway PLC regarding the heritage railway’s recent insolvency, the directors have had to take the “reluctant step” of inviting the bank to appoint a receiver/administrator.
"The company’s losses were said to stem from the contract engineering side of the business, where problems predated lockdown, and had seen owners remove their locomotives from the Llangollen workshops, including the Scottish Railway Preservation Society’s LNER D49 4-4-0 No. 246 Morayshire.
"The Llangollen Railway Trust immediately launched a dedicated fund – initial target £50,000 – to buy the PLC’s rolling stock from the administrator/receiver in due course, to prevent coaches being moved elsewhere and services being unable to resume.
"The proposed administrators of Llangollen Railway PLC are currently offering a unique and rare opportunity to purchase the operating and engineering assets, together with the business potential of this prestigious heritage railway.
"Interested parties should make contact without delay to confirm their expression of interest. Final and/or indicative offers will be required by 5.00 pm on Monday 22nd March 2021. Further information will be provided on receipt of a signed NDA.
"Visit www.lsh.co.uk/assetadvisory/private-treaty/llangollen-railway-plc—pt
"Donations are also welcome online at llangollenrailway.enthuse.com. Just visit the site and click the Donate button. For taxpayers, the railway can apply for 25% Gift Aid.
"You can also make a transfer to Llangollen Railway Charitable Trust: sort code: 53.81.03 account number: 23423455. Alternatively, supporters are invited to send cheques payable to Llangollen Railway Trust Ltd to The Station, Abbey Road, Llangollen LL20 8SN."
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