green-and-red lorries: Private equity firm DBay Advisors will acquire a 51 per cent stake in exchange for injecting 55m of funding, according to The Independent. The lifeline will pay Eddie Stobart's lenders using a controversial payment in kind loan that charges the company 18 per cent interest. The firm, which is well-known for its distinctive green-and-red lorries, is struggling under 200m of debt and was facing administration unless new funding was secured. Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now The Unite union accused DBay of perpetrating bandit capitalism by taking advantage of Eddie Stobart's vulnerable financial position. A situation made worse by the lack of information provided, said Unite's national officer for road transport, Adrian Jones. The recent financial problems experienced by Stobart's have led to our members at the company becoming very anxious about their employment.
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