Tuesday, 31 May 2011

Edward Stobart: Lorry Magnate Died Bankrupt


Edward Stobart: Lorry Magnate Died Bankrupt
Edward Stobart: Lorry Magnate Died Bankrupt. Haulage magnate Edward Stobart died bankrupt, it has emerged. Documents show Mr Stobart, who built Cumbria's Eddie Stobart haulage firm into a household name, petitioned for bankruptcy in July 2010.
Mr Stobart, who sold the company in 2004, had personal debts of £220,000 when he died on 31 March, aged 56, as a a result of heart problems.

The businessman, who lived in Warwickshire, took over a lorry trailer firm which failed in 2009.

Edward Stobart had petitioned for bankruptcy at Warwick County Court and his name is listed on the national Insolvency Register.

His occupation is listed as a company director and promoter and his status as bankrupt. This status was due for automatic discharge on 5 July, 2011.

RSM Tenon, the insolvency firm which original dealt with the case, said: "Known creditors have claims amounting to around £220,000. No material assets have yet been recovered."

Mr Stobart took over his father's Cumbrian firm in 1976 and built it into one of the most well-known haulage companies in the world.
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