Noted for its numerous battles with bureaucracy, the company was partially successful in getting otherwise closed freight lines up and running again. Motive power was obtained primarily through buying second-hand diesel locomotives from DSB, and a number of freight cars were leased from NS, the Dutch railways.
After several attempts to save the company, PBS was declared bankrupt in 2001. A new company, TraXion, was established and based on the remains of PBS, but was also commercially unsuccessful.