[4][6] Despite its apparent success, the company quickly ran into financial difficulties and at an Extraordinary general meeting of shareholders held in Wolverton on 4 November 1889, an amendment to accept voluntary liquidation was passed.

[2][7] Subsequently, a syndicate of Bedford businessmen led by Herbert Leon purchased the line, which reopened the section between Wolverton and Stony Stratford on 20 November 1891.

Fearing that the only means of transport for much of its Wolverton workforce would soon disappear, the LNWR stepped in and purchased the line,[9] not only undertaking renovations of the permanent way and rolling stock, but even acquiring a new Bagnall saddle tank locomotive.

[2] The line's original rolling stock consisted of 5 double-deck passenger cars, built by the Midland Railway Carriage and Wagon Company in Shrewsbury.

[2] One of the carriages (significantly larger than an AEC Routemaster double-decker bus) is on display at the Milton Keynes Museum on Stacey Hill (southern edge of Wolverton) with a variety of memorabilia.