Eddie Stobart Logistics saw its turnover and profit grow in its first full trading year under the majority ownership of private equity firm DouglasBay Capital, despite what it described as difficult trading conditions in its core markets. Filings made by Eddie Stobart Logistics show that for the year-ending 30 November 2015 the business posted a turnover of £496.5m, up 1.6% compared with £488.5m in the previous year – incorporating not just its UK activities, but those in Ireland and continental Europe. […]
More than 180 drivers at Eddie Stobart’s Tesco DC in Doncaster are set to strike for 48 hours next week following last month’s vote in favour of industrial action. The strike will run from early Tuesday morning (9 October) and will disrupt supplies to Tesco stores in the Yorkshire and Humber region, said Unite. The action, which more than 90% of staff voted for, follows a move by Stobart to issue termination notices to 183 drivers on 5 September after […]
BCA Marketplace has hit the acquisition trail once more, snapping up automotive services group Paragon Automotive for £105m.
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 […]