The passenger traffic on the Joint Railway and the CFR ceased in 1931, and the goods activity progressively ran down from 1964 onwards.

The area surrounding the town of Ashby-de-la-Zouch was an important mineral-rich district producing coal, clay and high-quality stone.

Heavy minerals were expensive to transport to market by animal power, and when canals became available, costs reduced considerably.

An independent company proposed the construction of a Rugby, Derby and Manchester line, to be capitalised at £1.5 million,[1] which would have passed through Hinckley, Market Bosworth and Ashby-de-la-Zouch.

[3] The LNWR reacted with a Bill for the 1867 session of Parliament for a railway covering the same ground, but also going further to reach Burton, connecting several collieries on the way.

The following year, on 25 June 1868, the MR and LNWR Ashby & Nuneaton Joint Railway Act was ratified and certain deviations were authorised.

[4][5] Bad weather and labour problems delayed the completion of the work, and it was estimated that the cost of building the line had overrun by £67,438, to £349,715, "mostly due to the effect of heavy rain".

[6] Some of the route closely followed the Ashby canal, but whereas the latter twisted with the contours to maintain its level, numerous cuttings and embankments carried the railway in a more direct line.

These caused considerable difficulty during construction as the contractors frequently encountered waterlogged sand and unstable clay which oozed out in sticky landslides.

No spectacular engineering works proved necessary but in such an intensively farmed district nearly a hundred red brick bridges were required to carry country lanes, or as occupation crossings where property had been severed.

The Charnwood Forest Company remained independent until Grouping in 1923,[note 1] when it was taken into the London Midland and Scottish Railway on 14 July 1923.

[13][14] The Charnwood Forest company was in the hands of the receiver form 1885 to 1909,[15] and never paid a dividend on ordinary shares throughout its existence.

Ordinary freight services ceased on 7 October 1963, but the line from Coalville (Charnwood Forest Junction) was kept open as far as Shepshed for private siding traffic.

A short section at Hugglescote reopened about 1976 as part of the new rail link to Coalfield Farm open cast site loading point.

From Measham and Donisthorpe Colliery to Overseal (the northern end of the joint line) closed to all traffic on 20 June 1981.