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Neil Woodford disaster of the day 1: Eddie Stobart refinancing via 25% interest rate loan, equity almost worthless

By Tom Winnifrith | Friday 15 November 2019

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Eddie Stobart Holdings (ESL) still sees its shares suspended as the company can still not get its half year accounts bottomed out and published but a rescue plan today may well see the shares slung off AIM and the nature of the mega high interest loan injection makes it clear the equity is almost worthless. Well done Neil – this was a major holding in the Income Focus and Equity Income Funds.

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