The Trust board of Llangollen Railway has this morning (Wednesday) issued a statement which is hopeful for the future of the heritage attraction.
In March 1 the railway's Public Limited Company went into receivership with debts of around £350,000.
Since then the assets of the railway have been put up for online auction, which culminates on May 12.
In the meantime, the separate Trust Board, which remains completely solvent, has been battling to raise enough money to buy as many of the assets as possible and get the railway back on track.
Today's statement from the board says: "The Trust is delighted
to announce it has completed a deal with the administrators of Llangollen
Railway plc, Cowgill Holloway Business Recovery LLP, for an undisclosed sum, to
purchase certain assets belonging to the railway along with the right to use
the railway line.
"This was the
first key step towards recovery and thoughts now turn fully to the task of
preparing for reopening as we continue on our journey to protect and preserve
this beautiful part of our heritage.
"Talks
have been initiated meanwhile with the Welsh Government, Business Wales,
Denbighshire County Council and the National Heritage Lottery Fund, all of
which have been positive.
"The
Safety Management System will have to be rewritten to some degree and fresh
approval sought from the Office of Rail & Road.
"Liz Parkes of North York Moors Railway has
been helping us in this regard and we are very appreciative of her support.
"We
have been very encouraged and gratified by all the support received in our
fundraising efforts and thank everyone who has contributed.
"Including promises, funds raised to date are
approximately £85,000. This should
enable us to submit a competitive bid in the auction on 12 May for key items,
such as at least one carriagewith accessible adaptation, function coach, road
railer, telehandler and 12t crane.
"Looking
ahead to the preparation for re-opening phase, £100,000 approximately is needed
to cover necessary overheads, for which we hope to attract at least some grant
funding.
"It remains too soon to
speculate when re-opening might be but we are targeting the end of July or
early August currently.
"We
would also like to acknowledge the continuing support of the media, without
which our need for funds would not have reached so wide an audience.
"Please
donate if you can: 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."