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 drivers facing redundancy at Tesco’s Doncaster DC look set to commence a second period of strike action next week, after talks between the operator and union Unite broke down. Unite rejected an improved severance deal for its 180 member drivers tabled at talks on the 19 October, despite Eddie Stobart claiming the enhanced package was worth an additional £1m. Further talks had been expected towards the end of this week but have now collapsed against the threat of […]
Eddie Stobart has wrestled a £15m Cemex contract from Wincanton after promising to deliver it using fewer sub-contractors.
Drivers have launched a campaign for trade union recognition at Eddie Stobart’s Carlisle, Lillyhall and Penrith depots in Cumbria.