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 […]
Eddie Stobart has purchased a 50% holding in express delivery company Speedy Freight.
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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.