Benefactors avert Llangollen financial crisis at 11th hour
Mar 10, 2020
3 minutes
By Robin Jones
GEORGE JONES
TWO unnamed benefactors have pulled the Llangollen Railway back from the brink of a financial crisis.
After Llangollen Railway plc sent out SOS letters to shareholders in February, asking for donations to raise £150,000 and therefore avoid having to enter into a Company Voluntary Arrangement (CVA) to give more time to pay existing creditors, one of them donated £100,000 and the second £70,000. Added to that were many smaller contributions from other shareholders and members.
The emergency
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