Has anyone heard anymore about this?
bobbya:
Has anyone heard anymore about this?
Read this morning that Wincanton want more time to study the ( Stobart) books.
Geoffo:
bobbya:
Has anyone heard anymore about this?Read this morning that Wincanton want more time to study the ( Stobart) books.
Thanks ,thought things had gone a bit quiet, cant really see it happening though.
I can imagine Wincanton would be interested in Stobarts work, but would they want to take on their debt when they could just wait for them to go under, and then pick up a lot of the work anyway.
Wincanton has till the 15 of November to make an offer.
Not heard anything more, are there still other interested parties too?
Side note, as a new pass young driver (no HGV experience) would you take a risk on getting a Stobarts job (struggling to get anything else at all) or not?
SUFCMark:
Not heard anything more, are there still other interested parties too?Side note, as a new pass young driver (no HGV experience) would you take a risk on getting a Stobarts job (struggling to get anything else at all) or not?
Go for it, if it wobbles, you will be TUPE`d over to the highest bidder, they need drivers whoever the next owner is… 
SUFCMark:
Not heard anything more, are there still other interested parties too?Side note, as a new pass young driver (no HGV experience) would you take a risk on getting a Stobarts job (struggling to get anything else at all) or not?
It certainly wont go ■■■■ up, next month you could be driving for Waberers
Wheel Nut:
SUFCMark:
Not heard anything more, are there still other interested parties too?Side note, as a new pass young driver (no HGV experience) would you take a risk on getting a Stobarts job (struggling to get anything else at all) or not?
It certainly wont go ■■■■ up, next month you could be driving for Waberers
Dbay have also got an extension till the 8th according to smaller media platforms…
I’ve me stobbys meet and greet coming this week so if any prospective investors are reading this, could you just hang fire till ive got a job first please, many thanks [emoji8]
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It’s not a merger either. It’s a successful, well run, profitable business buying a struggling, indebted, ■■■■ show. [emoji23]
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Benjie83:
Dbay have also got an extension till the 8th according to smaller media platforms…I’ve me stobbys meet and greet coming this week so if any prospective investors are reading this, could you just hang fire till ive got a job first please, many thanks [emoji8]
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Make it snappy, you’ve got 'til my lotto numbers come up.
Star down under.:
Benjie83:
Dbay have also got an extension till the 8th according to smaller media platforms…I’ve me stobbys meet and greet coming this week so if any prospective investors are reading this, could you just hang fire till ive got a job first please, many thanks [emoji8]
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Make it snappy, you’ve got 'til my lotto numbers come up. [emoji38]
[emoji38] [emoji38] [emoji38] [emoji38]
I’ve £50 worth of chilled easing in paste here if it helps swing my chances upon your purchase going through fella?
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SUFCMark:
Looks like DBAY Advisors have made an official bid
Wincantons have till Friday, although it’s looking like they won’t bid now due to “lack of financial information”…
EG, waaay too much debt, and WAAAAAY to many fingers in the pie to satisfy.
The words restructuring also appear in the article, which to me is code for we’ll offset other debt against/into stobbies, run it for x amount then fold it up.
My new start with em is gonna be swift me thinks… [emoji38] [emoji38]
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Surely this means good news? Ongoing work atleast for a while and drivers won’t lose their jobs at this time of year 
SUFCMark:
Surely this means good news? Ongoing work atleast for a while and drivers won’t lose their jobs at this time of year
Is the prayer we all want answered I’d personally like to hope bud [emoji106]
But that word “restructuring” is known death nail talk to me atleast , I’ve personally endured it twice with two major firms and its never exacted where it needs to be, it’ll be front line staff/procedures culled, I hate to be so cheerful about it lol but we all deep down know it…
Stobbies as an example to me had driven their own death nail, we’ve all seen the carnage caused by driving wages down on the front line, read the tales of tendering for contracts and collapsing it by running below any sane line, the corporate wastage and expenses…
It’s to me as said many a time incredibly sad to see a company which was built on pride get so shattered, and if I got in charge I’d be running a bulldozer through the lot, as like you say bud ultimately lives depend on the company and how anyone could allow it to get to this point consciencely is appaling, and it needs to be stopped now before they become another dead legend in the industry and many more mouths potentially suffer due to it.
I genuinely hope I’m wrong and the potential suiters get it sorted, but the money involved seems insane, that’s alot of debt, investment that need clearing, which is going to need serious workloads to generate the returns, and Alot of cleaning to be done to get the waste into wages process back on track…
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I think they just tried to grow far too quickly. They’ll probly limp along for a while if the DBAY offer is accepted although I don’t know if the other investors will accept the watering down of their shares. I suppose it’ll be better for them than it going bump as there’s nowt to sell.
If another recession comes along then they’re ■■■■■■.
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I still think they are trying to go bump before they need to commit to renewing the ‘lease’ on the Stobart brand.
Just imagine having to rebrand all them trailers overnight…
BBC News…A not particularly rosy update from Eddie Stobart, the haulier, whose shares were suspended in August after a £2m error in its 2018 results was uncovered.
The company has been undertaking a review of its accounts, and the publication of the firm’s results for the six months to 31 May has been delayed.
In its latest update, Eddie Stobart said that the preparation of its half-year results was still continuing, but that it expected to report a loss of at least £12m for the period, adding “shareholders should note that losses could be higher”.
These losses, together with what it calls “poor cash collection” and all the money it paid in dividends means it is sitting on a debt pile of £200m, “which the Board considers to be an unsustainable level,” it says, ominously.
It has secured a £55m loan from its former owner DBAY, a private equity investor, in exchange for a 51% holding in the group