Eddie Stobart’s former boss Andrew Tinkler (pictured) claims to have secured better-than-expected support from investors for a £70m rescue of Eddie Stobart Logistics (ESL), just days after announcing his intentions. TVFB, a company controlled by Tinkler, said its proposed fundraising had already received conditional indications in excess of the £70m target, notwithstanding TVFB has not yet met a number of major shareholders. Tinkler’s move comes after private equity group DBAY proposed injecting £55m into the business in exchange for a […]
This year’s most read was dominated by the sad demise of national haulier Canute, which never recovered from the end of its long-term contract with retailer Wilko last year.
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 […]
18) Alex Laffey Title: Chief executive officer, Eddie Stobart Logistics In April 2014 Stobart Group disposed of 51% of its 100% shareholding of the Stobart road transport business to Douglasbay Capital (Dbay) – the former owners of TDG – for £280.8m.