Eddie Stobart Logistics has won business with an annual value of £100m in the first six months of its trading year, the operator said in a trading update today (28 June). Recent high profile contract wins have included taking Cemex and Britvic from Wincanton. The news came as it revealed a deal to buy The Pallet Network for £53m. The operator has also seen group revenue surge 25% year on year in the first six months to 31 May 2018 […]
Former Eddie Stobart Logistics boss Andrew Tinkler claims ‘vast majority’ of its shareholders back his takeover bid
Eddie Stobart’s former boss Andrew Tinkler (pictured) claims to have secured better-than-expected support from investors for a £70m rescue of Eddie Stobart Logistics (ESL), just days after announcing his intentions.
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 […]
Stobart Group has taken delivery of two Iveco Ecostralis units as part of a three-year trial. The vehicles’ performance will be monitored in upcoming months as the pair operate from its depot in Carlisle. The trucks, named Sophie and Lynda Dawn, are expecting to remain in the fleet for three years running some 160,000km a year. Stobart’s fleet comprises of over 2,250 tractor units, preominantly Scania and Volvo but in April the firm took delivery of 18 Mercedes-Benz Actros units […]