Troubled haulier Eddie Stobart Logistics (ESL) has won a six-month breathing space on repaying a £200m loan and more than a year’s extension before it has to prove to its lenders it can service the debt. The rescue plan sees Allied Irish Bank, Bank of Ireland, BNP Paribas, and KBC waive the firm’s banking covenants until early 2021 and defer loan repayments until July next year, according to reports. The plan was put together by private equity fund DBAY Advisors, […]
Plenty more profit raking this week as transport shares took a tumble, but one faller stood out more than most: Wincanton – which has suffered a pretty dramatic fall in the past two months.
Wincanton has won an eFulfiment contract with Homebase to provide what it describes as “a fully managed customer delivery service”.
A lot has happened since I last interviewed Wincanton chief executive James Wroath (pictured) back in January. The upshot being that we’re now chatting from our homes via Zoom rather than sitting in the back office of a Sainsbury’s depot in north London.