[1] The company soon found itself in financial difficulties and, on the verge of bankruptcy in June 1850, its property was taken over by the receiver.
The receiver leased the EAR to the Great Northern Railway for 60% of the receipts.
[1] The GNR had running powers over the Eastern Counties Railway line between Peterborough, March and Wisbech (opened 1847).
[2] This left the way clear for the Eastern Counties Railway to take over operation of the EAR, which it did so, effective from 1st January 1852.
This arrangement continued until the company was absorbed by the ECR in 1862 along with a number of other lines to form the Great Eastern Railway.