Severn Valley Railway launches urgent survival appeal warning it 'may not make it to next year'
One of the region's most popular tourist attractions has launched an urgent appeal for donations, as bosses warn it may not survive its current financial crisis.
Leaders at the Severn Valley Railway have today launched a £1.5 million 'Survival Fund' appeal, after a "double whammy" of "escalating costs and lower revenue" has prompted urgent action.
Bosses say the railway has been profoundly affected by changes in the financial climate over the past three years, as a result of the Covid-19 pandemic, the war in Ukraine, post-Brexit supply chain issues and the cost-of-living crisis.
The railway has reassured passengers that it is "fully committed" to delivering the highest standards of experience over the coming year, but without an urgent injection of cash, its future is at risk.
Chris Walton, interim chairman of SVR (Holdings) Plc, the railway's operating company, said: "“We’re facing the double whammy of escalating costs and lower revenue.
“Costs across the railway have spiralled, including utilities, coal, diesel, steel, copper, catering supplies and interest rates.
"For example, in the past 12 months alone, our electricity bill has more than doubled, and this year it will not be far short of £500,000. All of these factors are outside our control.
