Hudson Bay Railway says negotiations regarding the sale of the Churchill rail line have broken down.
They state despite their best efforts to find common ground on certain key issues it now appears the transaction with a consortium that includes two First Nations groups and Fairfax Financial has fallen apart and that the sale of HBR to this group may not be possible. They add they will continue to pursue any and all opportunities to sell the rail line and related assets. HBR says they initiated the repair process last week but this development may jeopardize the opening of the rail line this season as they are not in a position to fund the entirety of the repairs in the absence of a sale agreement.
Churchill has been without rail service for more than a year after flooding washed out portions of the tracks.