Struggling haulier Eddie Stobart braces for lender showdown

The two publicly declared suitors for Eddie Stobart have been given until next week to finalise offers or walk away, but the value of any formal bids is likely to disappoint shareholders, according to insiders.

The other is DBAY Advisors, which bought 51% of Eddie Stobart from Stobart Group when Mr Tinkler was running the combined entity five years ago. Eddie Stobart's descent into crisis has prompted the ousting of its chief executive and triggered a statement from the company that it was reviewing all strategic options, including an equity-raise.The emergence of Mr Tinkler as a possible bidder adds a further chapter to a corporate saga that gripped the City last year.

A bitter legal fight then ensued which found that Mr Tinkler had breached his director's duties but also resulted in Stobart withdrawing its allegation that he had made improper expenses claims.

Hard to believe it's in a bad way

Always on football day it was count the stobbarts when I was a kid

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Source: The Guardian - 🏆 84. / 53 Read more »