This lot have not been making much news for a while, but it now appears they have been trying to find backers with real useful money to spend on stuff - and failing. There is, of course, no substitute, even if you do have some keen volunteers line up. This
from Railway Gazette International:
Railcoop on brink of liquidation as financing gap stymies restructuring hope
By Railway Gazette International17 April 2024
FRANCE: Open access co-operative Railcoop is expected to be formally liquidated on April 29, the company President Nicolas Debaisieux has confirmed.
The collapse of the co-operative comes after it was placed into judicial administration on October 16 for a period of up to six months. With this period now expiring, a hearing was held at the administrative court in Cahors on April 15 to begin arranging the formalities for creditors, two weeks ahead of the formal liquidation.
While this would bring to an end the idea of using a co-operative model to launch open access trains such as Railcoop’s planned Lyon – Bordeaux service, Debaisieux believes that the project could still be salvaged through outside investment. Railcoop had been planning to restructure itself into an operating business and an asset management ‘opco’.
The co-operative has been negotiating with investment fund Serena Partners and a rolling stock leasing company with a view to progressing the proposed restructuring. According to Debaisieux, these investors had secured 60% of the €11m required to establish the planned Lyon – Limoges - Bordeaux open access service, but this still left a €3·5m gap in the business plan...