Colorado Railcar shuts doors

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FORT LUPTON, Colo. - Colorado Railcar Manufacturing officially ceased its business operations Dec. 23, citing a "major liquidity problem." Its creditors are now in the process of liquidating the company.

Tom Rader, a former manager at Holland America/Westour, created Colorado Railcar in 1996. Its luxurious passenger cars currently serve Alaska Railroad and several cruise lines [see October 2007, "Building Dreams."] It also built diesel-multiple units for Florida Tri-Rail and Oregon's TriMet. However, the company took a big hit when Vermont backed out of a deal to buy DMUs for the state-supported Vermonter Amtrak trains.

Colorado Railcar spun off GrandLuxe Rail Journeys, which shut down operations Aug. 27 due to the slumping economy.

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