Eddie Stobart Logistics (ESL) in Trouble and Uber Lose Their London Licence

BUSINESS NEWS - Lorry drivers and warehouse workers employed by Eddie Stobart Logistics (ESL) are demanding urgent answers as the future of the company hangs in the balance.

ESL is understood to be in financial difficulties and trading in its shares were suspended in August.

The company has in principle accepted a conditional sale and purchase agreement with Isle of Man based venture capitalists Douglas Bay Capital (Dbay) for 51 per cent of the company.

However other major logistics companies are understood to be interested in the purchase of ESL but their bids are being hampered by a lack of financial disclosure by the company.

ESL provide logistics solutions for customers including Tesco, Pepsi Co, Nestle, Cooperative, Argos, Coca Cola, Crown Cork & Seal, SCA, Unilever, Britvic, AG Barr, Dobbies, BSW Timber, Amazon, Johnson & Johnson and Heineken.

Image: Eddie Stobart Logistics (ESL) in trouble. 

Meanwhile

Unite, the UK and Ireland’s largest union has welcomed the decision of Transport for London (TfL) not to renew Uber’s licence in the capital.

Jim Kelly, chair of Unite’s London and Eastern cab section, said: “Unite welcomes the decision of TfL not to renew Uber’s licence as there remains fundamental problems in the way the company operates, particularly issues around passenger safety.

“All the taxi trade wants is a level playing field.

“Uber’s DNA is about driving down standards and creating a race to the bottom which is not in the best interests of professional drivers or customers.

“Uber has a history of undermining licencing regimes. In particular there is growing concern about how Uber has also allowed drivers to become licenced in one area and then operate in areas where they are not licenced.

“In order to protect the public and to ensure standards are maintained it is essential that TfL follows this decision with stricter licencing of private hire operators and apps.

“This is the only way that public safety and confidence in the service can be maintained and the pay and conditions of professional drivers can be preserved.”

TfL has alleged that in the past year there could have been up to 14,000 potentially fraudulent Uber journey’s in London.

Image: Uber lose their London licence.