Gareth Evans visits the Llangollen Railway’s motive power depot and learns about the latest developments with the facilities and the fleet of steam and dies .
2 hours ago
Llangollen s Heritage Railway Trust has retained the coach it needed to reopen - successfully bidding for it at auction.
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The Llangollen Railway
Assets of the former operating arm of the railway, Llangollen Railway PLC, went under the hammer this week to pay its creditors after it went into administration owing £350,000.
The trust, which has remained solvent throughout the conference, launched an appeal to raise funds to bid for some of the items that had been owned by the PLC.
Chairman of the Trust, Pete Edwards, said: The bidding was fast and furious on the day for the coaching assets in particular, and the larger plant items. The prices paid were substantially in excess of our expectations which is good news for the PLC’s administrators and we are glad all the creditors, including those who are unsecured, will benefit accordingly.
LLANGOLLEN Railway could re-open as early as July or August, despite previous fears over its future. That is thanks to an online auction of the Public Limited Company s (PLC) assets on May 12. On March 1, the railway s PLC went into receivership with debts of around £350,000 and there were concerns for its future. The separate Llangollen Railway Trust, 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. Members say the bidding at the recent auction was fast and furious and that prices were paid substantially in excess of their expectations.
Apr 29, 2021
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Llangollen Railway
Members of the trust that has just been given the rights to run trains on the line said they are targeting the end of July or early August for having trains running again.
Earlier this year the Llangollen Railway PLC, the operating arm of the attraction, went into administration insolvent to the tune of £350,000.
This week the administrators agreed to sell the business, including the right to use the line, for an undisclosed sum to the solvent Llangollen Railway Trust.
However some rolling stock, machinery and vehicles owned by the PLC was not included in the sale and will be auctioned in May.
Railway Trust delighted as they announce deal completed with administrators of Llangollen Railway PLC wrexham.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wrexham.com Daily Mail and Mail on Sunday newspapers.