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, […]
A strong performance in its contract logistics division; the sale of its records management division; and Pullman Fleet Services walking away from two “onerous” loss-making contracts helped Wincanton improve its profit and reduce its net debt in its most recent financial year.
Wincanton has found home is where the heart is as customers in the DIY and home retail sectors drove growth at the operator. At the same time it has begun surgery to return its industrial and transport division to health.
This isn’t an editor’s picks, it isn’t an analysis of the most important news in the industry in the past 12 months – these are the most-read stories on Motortransport.co.uk. It is what our loyal readers wanted to read from the thousands of stories we published in 2013. Thanks for reading, and we’ll keep delivering bigger and better next year!