Severn Valley Railway ‘in survival mode’ due to impact of Covid-19

THE Severn Valley Railway (SVR) is carefully watching its finances due to the impact of Covid-19. The SVR (Holdings) Plc accounts for 2020 showed a loss of nearly £500,000 – and with restrictions and lockdowns having continued in 2021, a larger deficit is forecast this year.

“We are still feeling the impact of the pandemic and will do for many years. There are still uncertainties, and recovery is going to be long and hard,” said general manager Helen Smith. “The railway is in survival mode and every penny counts. Heritage attractions and hospitality businesses are amongst the worst-affected during the pandemic. A key part of my role is ensuring we generate enough revenue so we can pay back the £1.5m CBILS (Coronavirus Business Interruption Loan Scheme) loan to the bank.

“This is going to cost £30,000 per month. To do that, I need to make sure that we are tightening up on all our systems and procedures, and the system is robust and sustainable.”

A blow for the SVR came when it was found the railway was ineligible for support from round 2 of the Government’s Culture Recovery Fund grants. However, the line has confirmed it intends to apply for round 3.