|Quoting BA787 (Thread starter):|
Not a huge fan of trains but I heard a couple of days ago that they are close to being liquidized
Don't normally like to correct people's English, but the word you were looking for was "liquidated"!
Anyways back to this topic. The company who owns GNER, Sea Containers has debts of around of £350m. Sea Containers recently went to the high court over the decision to allow Grand Central railways to operate services between King's Cross and Sunderland.
However Sea Containers lost the court case which means a three times a day service will start from mid december and it is a definite that Grand Central will undercut GNER's fares between York and King's Cross.
Sea Containers generally now has two options. Either it can sell the business at a loss, because GNER is not making as much money as required in the franchise aggrement they made with the Office of Rail Regulation last year, one major reason for this was the terrorist attacks in London last year.
Or Sea Containers can keep the business but turn the train company can turn into a sort of no-frills service, cutting jobs and greatly reducing the number of services that will have a full restaurant service.
That's about it. But what we all do know is that one of Britain's best train operating comapnies is going to change, for better or worse we shall see in the future.