Eddie Stobart facing crucial vote on future tomorrow

Reported today on City AM For the full article visit: https://www.cityam.com/eddie-stobart-facing-crucial-vote-on-future-tomorrow/ Struggling trucking firm Eddie Stobart is facing a key shareholder vote on its future tomorrow as it struggles with bank debts of £200m.Shareholders are set to vote on whether to accept a £55m high-interest loan from former owner Dbay, which would take 51 per cent of the company in exchange.The company has warned of am imminent cash crunch if it fails to secure additional funding.Read more: Eddie Stobart lines up administrators ahead of vital voteFormer Stobart Group chief executive Andrew Tinkler has been trying to drum up support for an alternative package in the form of £80m equity raise with a £20m bridging loan.Tinkler has said shareholders are unhappy with the Dbay proposal and have been supportive of his plans.However, the company\'s banks and its board have thrown themselves behind the Dbay deal and are threatening to p