Firm News
Accountants Helps Edward Stobart to Save Famous Name
Two Warwickshire firms have played a key role in saving 100 jobs in Cheshire.
Accountants Murphy Salisbury and solicitors Wright Hassall worked together to advise Edward Stobart during his purchase of truck body and trailer builder Boalloy after the firm went into administration.
Stobart wanted to merge Boalloy with his existing firm, Fastruck Bodies, and purchase the 13-acre site of the Congleton-based company.
The transaction was funded using asset based lending facilities provided by Lloyds TSB Commercial Finance.
As a result, Boalloy Fastruck Bodies were able to offer more than 100 laid-off workers their jobs back and are now looking to hire more staff.
Stobart, who owned haulage firm Eddie Stobart Ltd before selling it in 2002, said: “This is the second time I have worked with the two firms and they are a credit to the standard of professional services in Warwickshire.
“I only wish I had met them 20 years ago. This transaction has been done without hassle and they have ensured that the deal was how I wanted it.
“The firm is now revitalised and we are looking to expand.”
Steve Smith, of Stratford-based Murphy Salisbury, said: “There is a real satisfaction in achieving this kind of outcome because there were a considerable number of jobs at stake.
“We always aim to provide the highest level of service and we are thrilled that this transaction has gone smoothly, allowing the company to thrive once more.”
Robert Lee, of Wright Hassall in Leamington Spa, added: “Murphy Salisbury had established a good relationship with Edward and kindly recommended us to provide the legal advice.
“We have a strong relationship with Steve and we are delighted that we were able to work together to achieve such a successful result.”
The business has also switched its banking to Lloyds TSB Commercial, the banking partner of Eddie Stobart Ltd.
Roger Scott, of Lloyds TSB Commercial in Stratford, said: “This deal demonstrates our commitment to working closely with the local professional community in order to support our customers.”
To find out more about how working with our leading firm of accountants in Stratford-upon-Avon and Warwickshire can help you, please contact us.
