Private equity investor DBAY Advisors has offered to buy a controlling stake in Eddie Stobart Logistics (ESL). Under the terms of the proposal, DBAY would acquire a 51% stake, with existing shareholders having a 49% interest. It is also proposing an injection of approximately £55m of financing into the group’s operations to “be used to provide necessary liquidity.” In a Stock Exchange announcement, which was made in response to press speculation of a deal, the group said: “The Board of Eddie […]
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 Logistics (ESL) achieved a major milestone in 2018 as it spent big on transforming itself into an end-to-end transport supplier with turnover, profit and debt surging as a consequence.
Unite members at Eddie Stobart Logistics’ Walkers Snacks Food contract are being balloted for strike action, after the union accused the haulier of ignoring its members’ established terms and conditions.