Severn Valley Railway svrofficialsite says it's been left short by rising prices and falling visitor numbers. Full story:
At a glanceIt comes on top of redundancies announced in FebruaryThey said Brexit, the pandemic and the war in Ukraine were all contributing factorsA heritage railway is appealing for £1.5m, for what it describes as a Survival Fund amid rising costs and falling visitor numbers.
Chris Walton, the interim chairman of SVR Plc, the railway's operating company, said: "Costs across the railway have spiralled, including utilities, coal, diesel, steel, copper, catering supplies and interest rates." At the time it was awarded money by the government's Culture Recovery Fund, it reported losses of about £500,000 a month during lockdown.It also received £400,000 from another appeal earlier in 2020, and £1.3m to repair the Falling Sands Viaduct at Kidderminster, much of it from the Heritage Lottery Fund.
"That option has been taken away by the combined financial challenges of the past three years," he said.It has already taken a number of cost-cutting measures, including recruitment freezes for non-essential roles, voluntary and compulsory redundancies and fewer trains in the first few months of the season.
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