Eddie Stobart Haulage Close to Collapse



foolzy said:
www.telegraph.co.uk

Eddie Stobart just weeks from collapse

Scandal-hit trucking firm Eddie Stobart Logistics has been forced to accept an emergency high-interest loan to avoid a collapse before Christmas that would put more than 6,500 jobs at risk.
www.telegraph.co.uk www.telegraph.co.uk

Bloody hell!
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apparently wincanton are interested. stobarts are one of those firms that grew and grew but lost sight of their core business. the transport side started to be ran by kids with degrees but no experience in shiny pointy shoes that couldn't plan a picnic.

those ws transportation wagons that have started kicking about are williams (stobart)

as sad as it'll be for the drivers and staff, at the end of the day stuff will still need moving and storing so the work will still be there.
there won't be many tears shed if they do go tits up, especially all the small hauliers they sent to the wall by undercutting rates and doing jobs for a loss just to get their foot in the door and using their warehousing to make the money.
 
humbug said:
apparently wincanton are interested. stobarts are one of those firms that grew and grew but lost sight of their core business. the transport side started to be ran by kids with degrees but no experience in shiny pointy shoes that couldn't plan a picnic.

those ws transportation wagons that have started kicking about are williams (stobart)

as sad as it'll be for the drivers and staff, at the end of the day stuff will still need moving and storing so the work will still be there.
there won't be many tears shed if they do go tits up, especially all the small hauliers they sent to the wall by undercutting rates and doing jobs for a loss just to get their foot in the door and using their warehousing to make the money.
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I've heard that Maritime are the front runners to take all of Stobarts Tesco work - its dog eat dog by the looks of things
 
itscoldinhere said:
What's meant by black hole?
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Big companies push the money around within the company so on paper it all looks rosey
They publish results for different parts if the business making it look great
External auditors or a bank then has a look and finds a dead end
Cheque kiting is another ,showing big amounts in limbo what dont exist or showing cashed in one part of the business and uncashed in the other.So you have the amount in both accounts
 

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