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 born at Darlton, Notts. and became a wealthy shipper in Kingston upon Hull. Two years later, Read's will endowed the school at Drax and founded further grammar schools at Tuxford in Notts. and Corby Glen in Lincolnshire. Read also funded the building of six almshouses in Drax for elderly people, stipulating that they should be for three men and three women. Drax had two railway stations: both are now closed. Drax Hales railway station was on the North Eastern Railway's (NER) Selby to Goole Line: British Railways closed it in 1964. Drax Abbey was on the Hull and Barnsley Railway