The two-way battle for control of Eddie Stobart Logistics (ESL) has taken another twist after former CEO Andrew Tinkler (pictured) promised to inject a further £10m of equity into the troubled haulier if his bid is successful. The move would see Tinkler’s overall offer rise to £80m, in part to repay debts which are understood to have spiralled to an “unsustainable” £200m. In a statement, TVFB (3) Limited, a company controlled by Tinkler, also revealed it has bought a 6.5% […]
CM Downton walked away with the big prize of the night – the Haulier of the Year trophy – in front of a sell-out audience of 1,500 at last night’s Motor Transport Awards (13 June). Delighted directors of the family firm Andrew, Richard and John Downton, collected the trophy from co-host Sean Lock. The Moreton Valance, Gloucestershire-based firm has achieved the remarkable feat of boosting turnover and doubling operating profit since the credit crunch struck in 2008 – a performance […]
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Tesco has re-awarded the contract to run its UK distribution centre (DC) transport operations to Eddie Stobart.