William Stobart will return to manage the company that bears his name should an offer for a 51% stake in Eddie Stobart Logistics from DBAY Advisors be successful.
Stobart stepped down as director in April 2017 as the business floated on the AIM exchange, but recent months have seen Eddie Stobart Logistics lose its former director Alex Laffey, admit that it was not as profitable as it expected to be, have its shares delisted and rival Wincanton walk away from an offer to acquire the business.
In a statement today DBAY said: “We want customers to rest assured that our immediate priority is to ensure that they receive the reliable, high-quality service expected of this great brand.
“Key to all this will be the excellent partnerships Eddie Stobart has developed with its suppliers, who we know will play an important role in restoring the business.
“With the new funding in place to stabilise the business, we believe the company can thrive once again. This belief is underpinned by the return of William Stobart who will support the operational management teams.
“This stability will be important to provide excellent customer service through the Christmas period and will allow the company to meet its commitments to customers and suppliers throughout this busy period.”
The board at Stobart is recommending that shareholders vote in favour of the DBAY proposal at a general meeting on 6 December.
Meanwhile the board said that proposals for an acquisition for an acquisition by former Stobart chief executive Andrew Tinkler – via his company TVFC 3 – are currently not capable of being implemented.