Stobarts a case in point ?

Flat 10

Member
Arable Farmer
Location
Fen Edge
I see that the shareholders have opted for the finance people taking 51% in exchange for the loan at 25% interest, how long do you think they can last with that on top of the £200 million they already owe?

Headline in the paper says 2500 jobs saved, I would class it as financial suicide.
I can’t make it add up. Who wants it to continue? Apart from the 2500 people who work there?
 

Flat 10

Member
Arable Farmer
Location
Fen Edge
I see that the shareholders have opted for the finance people taking 51% in exchange for the loan at 25% interest, how long do you think they can last with that on top of the £200 million they already owe?

Headline in the paper says 2500 jobs saved, I would class it as financial suicide.
I can’t make it add up. Who wants it to continue? Apart from the 2500 people who work there?
 

oldsmokey

Member
Location
Sunny Cork
A Tang.

Will be male aged 18-28, living in north Armagh area, more psychically someone who drinks in The Famous Grouse Bar. These young men can be noticed by a their V8 Scania jacket and in more recent years they have diversified and the jackets will have a company website on back with a Scania badge on the front , a Ben shearman shirt, a Brown belt, denim jeans and a pair of super Hampton boots.
Before they gain there HGV licences they shall have done at least one season of Silage (or as they will say “the grass”).
In the summer months they can be found at most major truck shows, they seem to hunt in packs as there is normally a number of them together, listening to Garth brooks and tri axel music. Alought there may be 7-8 of their lorries in a small area they like to congregate in on single cab sometime up to 12 of them at a time. (Bewarned and be careful whilst passing them as one wrong move could lead to copious amounts of unprovoked verbal slagging to any passer by, it’s the tang equivalent to the travellers grabbing.
Their Yoke will be a V8 Scania Topline.
It will have the full frilly curtain and led scania griffin logo on the back wall , straight pipes and will have lots of Kelsa accessories. He will pull a fridge trailer which he will call a frigo.
He will normally do Northern Ireland to mainland UK which he will call the bean, five trips every two weeks and will do two laps of the parking lot when arriving and leaving using as many gear changes and blip the throttle between every gear change.
Love it, those lads wear their hearts on their sleeve, they keep multiple industries afloat ?.. similar carryon to the 'felted' corolla scene, also the preserve of a particular group...wortthy of a phd dissertation if you ask me
 

beef 1

Member
Location
north yorkshire
Eddie Stobart shareholders have approved a rescue plan for the truck company, staving off possible collapse.
One of the firm's largest shareholders, DBay Advisors, will lend it £55m through high-interest bonds and assume control of the haulier.
Shareholders voted "overwhelmingly" for the deal, the company said.
It means the company will avoid breaking its banking agreements and will not face administration.
Under the plan, in return for the £55m loan DBay will increase its stake in Eddie Stobart Logistics to 51%, but will charge the company an interest rate of 18% for the loan.
This will hand DBay control of the haulier as well as a stronger claim to any money it makes, as debts are paid before shareholders see any payments.
The loan is a so-called payment-in-kind (PIK) loan, an unusual type of borrowing which last came to public prominence during the controversial takeover of Manchester United by the Glazer family.

****Before this rescue takes place , neither of the two original directors A Tink and Will S are part of this company .
and Stobart Rail, Air and W A Dev, are not part of this transport and logistics sidearm .
 

JeepJeep

Member
Trade
What happened to norbert dentressangle?

Used to nobbie and stobbie spot on our summer holidays on motorway. Had a exciting childhood!

XPO bought them for 3 billion Euro.

Willi Betz was another that were everywhere. All Blue double manned Mercs.

They'd dozens parked up on the last services of the M1 London end they'd have tables and benches set up in one of the trailers and some serious pans cooking away.
 

SFI - What % were you taking out of production?

  • 0 %

    Votes: 79 42.2%
  • Up to 25%

    Votes: 65 34.8%
  • 25-50%

    Votes: 30 16.0%
  • 50-75%

    Votes: 3 1.6%
  • 75-100%

    Votes: 3 1.6%
  • 100% I’ve had enough of farming!

    Votes: 7 3.7%

Red Tractor drops launch of green farming scheme amid anger from farmers

  • 1,289
  • 1
As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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