Drax Group in 2002. Many companies experienced financial problems, and Drax Power Station’s major customer went into administration, triggering financial difficulties for Drax. Following a series of standstill agreements with its creditors, the AES Corporation and Drax parted company in August 2003. During the restructuring, a number of bids were received from companies wishing to take a stake in the ownership of Drax, but creditors voted overwhelmingly to retain their interest in Drax. In December 2003, the restructuring was completed and Drax came under the ownership of a number of financial institutions. Almost exactly two years later, on 15 December 2005, Drax
Drax, North Yorkshire post-office and village shop was opposite the parish church and closed in 1998. Drax has a Church of England parish church, dedicated to St Peter and St Paul. In the reign of King Henry I (1100–1135) William Paynel founded a priory of Augustinian Canons at Drax. In 1868 it was reported that traces of the priory could still be found but fieldwork in the 1980s and 1990s has failed to find any physical remains of it. By the mid-thirteenth century, Drax was a borough of local significance. However, an inquisition held in 1405 stated that the local manor was of