SOUTHAM, England Vivarail, the British passenger train re-manufacturing company majority-owned by Pittsburgh-based Railroad Development Corp., has announced it is seeking the appointment of insolvency administrators via the British courts while efforts are made to find new investors or owners for the company.
The process, similar to Chapter 11 protection in the USA, will allow the company to carry on trading while possible new owners or investors are found.
Vivarail was founded in 2013 by British rail industry …
Read the full article at: https://www.trains.com/trn/news-reviews/news-wire/rdc-owned-british-passenger-equipment-company-files-for-insolvency-protection/