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
Read School, Drax asks students to remember Charles Reade 'and all other our benefactors'. Since the demolition of Adamson House at the west end of the village, which has previously served as the junior school and since becoming co-educational the girls boarding facilities, all facilities are located on the one remaining campus at the east end of the village. None of the original 17th-century school buildings survive into the present day. Instead the core school buildings date from the grammar school era, built in 1853 and 1908. The memorial library was built in 1954 by the Drax Grammar School Old Boys’ Association in