UPDATE .... UPDATE ....
* See statement about the PLC's administration just added at the foot of story
Llangollen Railway Trust Ltd has issued its first public statement since the railway's quite separate Public Limited Company (PLC) called in the receiver on March 1.
It looks positively to the future of the world-famous heritage attraction, suggesting that trains could possibly start to run again later in the year.
Issued in the name of trust finance director Phil Freeth, it says:
"The directors of Llangollen Railway Trust Ltd
have greatly appreciated the extensive and sensitive support of the media when
the impending demise of the PLC was announced.
"The coverage engendered much support from the general public for which
the directors would like to express their gratitude.
"We have also received much support from local
MP, Simon Baynes and AM, Mark Isherwood, Denbighshire County Council and
Llangollen Town Council, all of which is much appreciated too.
"Whilst the PLC will go into administration or
liquidation shortly, the Trust remains fully solvent and debt-free, and the
directors will be considering the options over the next few days and
weeks.
"The first task is to preserve the
line and then to bid for such assets of the PLC as limited resources will
permit. Directors and key volunteers are compiling a list of assets they
consider essential for the continued running of the railway.
"The Trust does own 3 locomotives as well as
passenger rolling stock which, together with the Railcar and Diesel Groups,
will be able to operate after regulatory, legal and licensing matters have been
resolved.
"The assets of the PLC are now effectively
available for sale to the highest bidder. Consequently the Trust needs to raise
as much money as possible for this purpose in 3 ways:
●
Donations - the easiest
way to donate is perhaps online at https://llangollenrailway.enthuse.com and click the Donate button, or via our Facebook page. For
taxpayers, the Railway can apply for 25% Gift Aid.Alternatively, supporters are
invited to send cheques payable to Llangollen Railway Trust Ltd to The Station,
Abbey Road, Llangollen LL20 8SN.
Contrary to some
comments in social media, every donation will be for the benefit of the Trust.
●
Opportunity to
acquire heritage assets - by bidding for the assets, such as rolling stock,
individuals or groups have a unique opportunity to acquire heritage coaches and
other items. It is hoped that, following
sale, the items would remain on the Railway.
●
Thirdly, the
opportunity to purchase one or more of the Trust’s steam locomotives - the
Trust does not have the income or resources to own and maintain them. Sale of one or more, if completed quickly,
would enable the Trust to be a more competitive bidder for the assets of the
PLC. Again, it is hoped that the
locomotives would remain on the Railway.
"We hope to be able to run
trains again later this year but placing a timescale on that would be purely
speculative at the moment.
"The volunteers building Corwen
station have made excellent progress, albeit necessarily slowed by lockdown,
and we do anticipate being able to run to Corwen when the Railway reopens.
"Shareholders of the PLC are
reminded that any annual ticket allocation entitlements and lifetime passes
will continue to be honoured.
Shareholders would need to join the Trust if they are not members
already.
"The directors would like to
take this opportunity to appeal for members and volunteers to join what is one
of the most scenic lines in the heritage movement.
“'It is the aim of the
directors to refocus the Trust as an outward looking organisation centred on
delivery of a high quality visitor experience, and strengthen partnerships with
external agencies to help develop our business plan and articulate what is
unique about our railway, its situation and how it complements Llangollen,
Corwen and the Dee Valley,'” commented new chairman, Pete Edwards.
“This will require a significant culture
change at board level as well as elsewhere, as we look at how we tie in with
the cultural life of of the Dee Valley and how we can enhance the events and
locations for which Llangollen and the surrounding area are already well
known.”
* Anyone wishing to contact the
Railway, please do so by e-mail at trustllanrail@gmail.com and details will be passed on as appropriate."
* New PLC statement
A statement has been issued this afternoon on the railways website related to the PLC's receivership.
It says: "Alan Coleman and Jason Mark Elliott of Cowgill Holloway Business Recovery LLP have been formally engaged to assist the Directors with placing Llangollen Railway Plc into Administration.
The operating and engineering assets, together with the business potential, are currently being marketed for sale and should you have any interest in purchasing the business and / or assets, please contact;
Michael Booth or James Hanson of Lambert Smith Hampton by email on mbooth@lsh.co.uk or jhanson@lsh.co.uk
Full details of the assets as being advertised by Lambert Smith Hampton can be accessed using the following link : https://www.lsh.co.uk/assetadvisory/business-sales/llangollen-railway-plc
If you believe that you are owed money by the Llangollen Railway Plc, please send full details of your claim including your full name, postal address and email address and full details of the amount that you are owed, to Ben Gray at ben.gray@cowgills.co.uk or 0161 827 1200.
If you are a shareholder of Llangollen Railway Plc please direct any queries to Ben Gray at ben.gray@cowgills.co.uk or 0161 827 1200.
* Stuart Davies, Llangollen Town Cllr, says he is heartened to hear that the Llangollen Railway Trust have a recovery plan and wishes them all success in moving forward.
He stated that he was always impressed with their apprenticeship scheme and hopes that they will be able to continue it. He adds that, like many other supporters, he has made a small donation to help them with their plans.
