(17 Feb 2021, 9:01 pm)L469 YVK wrote Ok, not strictly asset stripping but very similar. DB have effectively washed their hands of Arriva.

It's not like haha. Asset stripping is where you sell everything you own; property, vehicles, land and cash the money for yourself and then lease everything back with absolutely stupid interest rates and dump the company with no assets and leases which increase yearly at stupid rates. They're also unsellable as there's nothing to buy bar a lot of leases you don't want leading to them going bust.

Kingfisher is probably the biggest example of this in the UK with Woolworths where they sold all the Woolworths stores off and leased them back and used that money to fund B&Q and then eventually just dumped Woolworths leading to what happened. Debenhams and BHS are two other companies which it's happened to in recent times.

Whatever you think of DB, they're no-where near that level.

Tbf though this isn't the first time it's happened as it happened 15 years ago pre DB aswell with Scanias at Blyth which we're leaking, Metroriders on the X31/X32 often. The 308 being ran by the extremely outdated ex London Olympian N113's. Seems to be a trend with Arriva. Arriva North East are arguable in a much better place atm rather than the likes of Prismas doing the X1 and X93 constantly breaking down and so on plus Prestiges in general.