with Colin Burges
You will recall that it was let on 1st March 2015 for eight years to 31st March 2023 to Inter City Railways Ltd (90% owned by Stagecoach and 10% by Virgin) trading as Virgin Trains East Coast. In November 2017, Stagecoach-Virgin said that it's £3.3bn bid and revenue forecasts were too high and Grayling said he would end it three years early in 2020, but in February he announced its imminent failure.
This is the third time ICEC has collapsed, previously Sea-Containers (GNER) in 2006 and National Express in 2009. From 2009-15 ICEC was run by a government company Directly-Operated Railways, and a similar arrangement will now follow with a company called London & North Eastern Railway, and a view to forming a public-private partnership in 2020."
Best wishes, John Roberts. Many thanks John - big news indeed.