Eddie Stobart Logistics (ESL) may be forced to seek a new injection of capital to ease investor concerns over mounting debts, an equity analyst has told motortransport.co.uk The company shocked investors last week when it suspended trading in its shares and announced CEO Alex Laffey was to step down. It has since also been revealed that ESL made it difficult for auditor KPMG to obtain “sufficient audit evidence” as it tried to compile the company’s annual accounts. This prompted the accountancy […]
Stobart Group has said a £25m windfall generated by a property sale this month will be held in cash pending reinvestment or used to repay debt.
Culina-owned contract packing services provider IPS has established a joint venture with Eddie Stobart Logistics to run a dedicated packing facility at Stobart’s Bardon, Leicestershire site, where it stores and distributes products for Nestlé.
Former Tesco drivers at Eddie Stobart’s Doncaster DC have suspended further strike action so that union officials and the logistics firm’s management can resume talks this Friday (19 October). More strike action was set to start tomorrow (Thursday, 18 October) but Unite officials representing the 183 drivers at threat of redundancy have postponed this in lieu of renewed talks. Harriet Eisner, Unite regional officer, said: “Stobart has confirmed it intends to put an offer on the table, so we are […]