• Article

    Former ESL auditors fined over accounting failings

    2023-06-29T15:46:00Z

    Accounting firms KPMG and PwC have been fined over their audits of Eddie Stobart Logistics (ESL) for “not satisfying the relevant requirements”.UK accounting regulator, the Financial Reporting Council (FRC), said there were “numerous, serious and pervasive failings” in PwC’s 2018 audit of ESL and “some serious failings” in KPMG’s 2017 ...

  • Eddie Stobart steers path to recovery as losses cut by 77%
    Article

    Eddie Stobart steers path to recovery as losses cut by 77%

    2021-06-28T13:37:00Z

    Eddie Stobart Limited (ESL) slashed its losses by 77% in 2020 after exiting a number of “unprofitable” contracts, implementing cost cutting measures and applying a new accounting standard.However, its decision to turn its back on its “uneconomic” industrial, retail and bulk contracts also saw turnover fall by 7% in the ...

  • Redundancies on the cards at Eddie Stobart Logistics
    Article

    Redundancies on the cards at Eddie Stobart Logistics

    2020-06-02T10:36:00Z

    Eddie Stobart Logistics (ESL) is preparing to make redundancies across the group, motortransport.co.uk has learnt, with sources claiming around 100 jobs are at risk.The company confirmed this week that redundancies are on the cards but declined to say how many jobs are under review.In a statement ESL said: “Like many ...

  • The Pallet Network sees profits rise under Eddie Stobart Logistics' ownership
    Article

    The Pallet Network sees profits rise under Eddie Stobart Logistics' ownership

    2020-08-04T15:13:00Z

    The Pallet Network (TPN) continued to thrive in its first full year after being acquired by Eddie Stobart Logistics (ESL), according to its latest annual results.TPN, which was bought for £52.8m by ESL in June 2018, reported a “strong year” in all areas, despite the impact of Brexit, with a ...

  • Eddie Stobart upbeat on first half-year results under new ownership
    Article

    Eddie Stobart upbeat on first half-year results under new ownership

    2020-08-10T09:44:00Z

    GreenWhitestar Acquisitions (GWSA), the holding company for Eddie Stobart Limited (ESL), has given a positive trading update for the first half of the 2020 financial year.In the first six months of the new ownership structure led by executive chairman William Stobart and chief financial officer Brian Corrway, GWSA reported revenues ...

  • Eddie Stobart Logistics audits under investigation by UK accounting watchdog
    Article

    Eddie Stobart Logistics audits under investigation by UK accounting watchdog

    2020-05-27T08:32:00Z

    An investigation into two audits of the accounts of Eddie Stobart Logistics (ESL) has been launched by the UK’s accounting watchdog.The Financial Reporting Council (FRC) is investigating KPMG’s audit of ESL’s accounts for the year ended 30 November 2017 and an audit carried out by PWC for the year to ...

  • Article

    Shareholder Dbay in bid for Eddie Stobart Logistics

    2019-09-10T13:33:00Z

    Eddie Stobart Logistics (ESL) has received a takeover bid from one of its current shareholders, Dbay Advisors.ESL shocked investors last month when it asked for its AIM-listed shares to be suspended after it failed to publish its half-year results in time.CEO Alex Laffey also stepped down with immediate effect and ...

  • Eddie Stobart Logistics CEO Sebastien Desreumaux to leave at the end of the month
    Article

    Eddie Stobart Logistics CEO Sebastien Desreumaux to leave at the end of the month

    2019-12-17T13:02:00Z

    Eddie Stobart Logistics (ESL) has announced that Sebastien Desreumaux, who became CEO in August 2019, has resigned from the board of Greenwhitestar Acquisitions (GWSA) – the subsidiary which holds all of the trading entities within the Eddie Stobart Group – and will leave at the end of the month.A statement ...

  • Article

    Eddie Stobart Logistics wins stay of execution on £200m loan

    2019-11-25T10:55:00Z

    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 ...

  • Date set for Eddie Stobart Logistics shareholders to consider DBAY Advisors bid
    Article

    Date set for Eddie Stobart Logistics shareholders to consider DBAY Advisors bid

    2019-11-22T15:19:00Z

    A general meeting of Eddie Stobart Logistics (ESL) shareholders is to take place on Friday, December 6 to consider DBAY Advisors' bid for the troubled haulier.The Isle of Man-based private equity company has offered ESL a £55m capital injection and will take a 51% stake in the company if shareholders ...