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Peak Rail Annual Report and Action Group

Discussion in 'Heritage Railways & Centres in the UK' started by huochemi, Aug 11, 2017.

  1. Johnb

    Johnb Nat Pres stalwart

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    You forgot to mention the shopping centre and a load of houses built over the formation north of the A6 at Rowsley. Looking at the operation of Peak Rail and the lack of passengers over the last two days I can see it withering away over the next few years. The guided busway from Derby to Matlock didn't seem that well used either. It was a mistake to close it as a through route but it's now gone and perhaps best left that way.
     
  2. ilvaporista

    ilvaporista Part of the furniture

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    There is further information about the AGM on the weekend rails blog entry for the 1st July.
     
  3. John Baritone

    John Baritone New Member

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    I can well understand that, Breva - and I'm sure you're not the only previous supporter of the line who feels that way.
     
  4. JayDee

    JayDee Member

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    An interesting thing to note is Bakewell was originally supposed to retain its train station according to Beeching. Never quite got why it got cut further back to Matlock.
     
  5. crantock

    crantock Member

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  6. Its what?
     
  7. gwalkeriow

    gwalkeriow Well-Known Member

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    I think perhaps that should be " Railway " Station
     
  8. snappertim

    snappertim New Member

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    First impression from filed accounts to me is that the company is trading only by the goodwill of their creditors. I appreciate that these accounts are a snapshot in time but the liquidity,or rather the lack of it, of the company is a great cause for concern
     
  9. MellishR

    MellishR Resident of Nat Pres Friend

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    If receivers were to be brought in, what would they do? Would the railway be worth more as a functioning business or as scrap material and land?
     
  10. ilvaporista

    ilvaporista Part of the furniture

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    The shopping centre and houses are on what was the original terminus station and later the goods yard site. This is not the route to Bakewell.
    The main line rises up on an embankment and crosses over the A6 by The Grouse pub before going over the river on a viaduct. the line follows the A6 for a while before going in to a tunnel by Haddon Hall.
     
    Last edited: Jul 5, 2018
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  11. 35B

    35B Nat Pres stalwart

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    A very good question. In the light of recent, mostly retail, insolvencies, it's worth bearing in mind that other options exist.
     
  12. estwdjhn

    estwdjhn Member

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    Aren't the largest creditors the directors and president, who have provided loans to cover some of the legal costs?
    I would presume that they are unlikely to call these loans in and bust the place...
     
  13. Greenway

    Greenway Part of the furniture

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    If that is so then it could explain their reluctance to 'let go'. After all a 'bird in the hand, is worth two in the bush'. :D
     
  14. Martin Perry

    Martin Perry Nat Pres stalwart Staff Member Moderator Friend

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    Aren't they equally unlikely to realise their loans, except from a working profitable railway, run by a motivated volunteer workforce?
    Touch of the Catch-22s.
     
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  15. jnc

    jnc Well-Known Member

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    And likewise, if things did 'hit the fan', they'd have a big voice on the disposition, and maybe wind up with some of the pieces.

    Noel
     
  16. Lax ambition

    Lax ambition New Member

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    This sums up the position that the Peak Rail PLC has got into with the current leadership, the railway needs cash to continue, but should people part with their hard earned cash when the above sentiment prevails.

    Why the PLC board doesn't co-opt two or three of the Action Groups proposed directors onto the existing board would achieve several things:

    1 Transparency in the workings of the existing directors.
    2 Show of faith to the members / shareholders that they want the railway to succeed.
    3 Curb the existing "So, take us to court" mentality of present

    The Action group are not there to close the line, they want the line to survive and prosper for the future (my words, not theirs).
     
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  17. T'Bogger

    T'Bogger New Member

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    I wish I could write some words that would help provide a swift resolution and enable a re-invigorated re-start to the 'Peak Rail Project'. But such mindful thoughts elude me.

    I, in fact all of us, know so little of the full story. We are only left to make it up in our own minds from what we see and read before us, and through human nature, try to fill in the gaps. All of which is probably far from the actual truth and will probably never be known.

    So whilst the relatively few become more and more entrenched, so lengthens the time when the whole railway can start moving forward again. In the meantime, we will continue to tippy-toe along trying to make progress, when in fact it feels more like we stagnate. We put a brave face on things claiming little nuggets of achievement to ourselves, such as authentic lamps at Darely Dale, Signal Box at Rowsley, Class 14 working again, and an LMS brakevan being restored to authentic condition. All of which is over shadowed into darkness by hatred, anger and needless costs to the railway. The only ones who can end this are those who are embroiled in it. And will they give consideration to the rest of us, even if that means walking away?

    As this continues, then events will overtake us, such as if the quarry companies do hit to railway rebuild button. Meanwhile those few on whatever side, believing they are right, will have expelled so much energy and resources, earned by volunteers and supporters of the original dream, that there will be none left to keep the railway going, let alone move forward.

    This is what it feels like.
     
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  18. jnc

    jnc Well-Known Member

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    Interesting; the 'Officers' page shows that Ms. Statham seems to be in her late 70s. I wonder if that is having any influence; and will it come into play?

    Noel
     
  19. Breva

    Breva Well-Known Member

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    Also interesting, not seen in the abbreviated report sent to shareholders, is the auditor's comment on P8 headed 'Material Uncertainty Related to Going Concern'.
     
  20. Andy Williams

    Andy Williams Member

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    In fact, the age profile for the remaining directors is interesting. Not much in the way of young blood there..!!
     

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