Eddie Stobart and AW Jenkinson Forest Products will add 1,500 Euro-6 Scanias to their fleets as part of a renewed joint procurement agreement. Orders will be placed throughout 2014 and 2015, including an initial order for 150 vehicles, in what the manufacturer described as its biggest Euro-6 order to date. The first order consists of 410hp G-series 4×2 trucks fitted with sleeper cabs for Eddie Stobart, 450hp R-series 6×2 tractors with Highline cabs for AW Jenkinson, and 450hp R-series 8×2 […]
Stobart Group has sold its automotive after-sales division, Stobart Vehicle Services, to Paragon Group for an undisclosed sum. The division, which was part of Autologic prior to its purchase by Stobart in August 2012, provides car manufacturers and dealerships with services ranging from new car preparation to customisation. As part of the deal Paragon will take on former Autologic sites in Corby, Portbury, Doncaster and five manufacturer locations and said it would be “welcoming 500 new staff”. The division will […]
Lenders to Eddie Stobart Logistics (ESL) are understood to have recruited advisers to help negotiate a potential financial restructuring of its £155m net debt position. Sky News claims lenders have called in Alverez & Marsal, a global professional services firm notable for its work in turnaround management and performance improvement for high-profile international businesses such as Lehman Brothers and Arthur Andersen. Lenders are demanding answers after ESL failed to publish half-year results amid ongoing investigations into accounting irregularities. The news […]
Wincanton has told Eddie Stobart Logistics’ stakeholders to “take no immediate action” following news that ESL has agreed a conditional sale to private equity firm DBAY Advisors.