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Edward Stobart died bankrupt, court documents show | |
(about 1 hour later) | |
Haulage magnate Edward Stobart died bankrupt, it has emerged. | 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. | 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. | 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. | 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. | 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. | 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." | 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. | 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. |
'Kind and loyal' | 'Kind and loyal' |
The firm had eight trucks and 12 employees when he took over. By 2001, that had risen to 1,000 lorries and 2,000 staff, operating from 27 sites. | The firm had eight trucks and 12 employees when he took over. By 2001, that had risen to 1,000 lorries and 2,000 staff, operating from 27 sites. |
The company even had a "fan club", which attracted 25,000 members at at its height. | The company even had a "fan club", which attracted 25,000 members at at its height. |
Mr Stobart was managing director for more than 30 years but sold the business to his brother William and business partner Andrew Tinkler, in 2004. | Mr Stobart was managing director for more than 30 years but sold the business to his brother William and business partner Andrew Tinkler, in 2004. |
The Stobart Group said Mr Stobart's financial affairs were "a private matter". | The Stobart Group said Mr Stobart's financial affairs were "a private matter". |
The firm previously described him as a "a true legend of the haulage industry". | The firm previously described him as a "a true legend of the haulage industry". |
Richard Butcher, chief executive of Stobart Group, said: "I worked with him for a number of years and he was an absolute gentleman. A very generous, a very kind man. A very shy man in some respects. | Richard Butcher, chief executive of Stobart Group, said: "I worked with him for a number of years and he was an absolute gentleman. A very generous, a very kind man. A very shy man in some respects. |
"He demanded the best from everyone who worked with him, but he was loyal to those who worked with him throughout his time at the business." | "He demanded the best from everyone who worked with him, but he was loyal to those who worked with him throughout his time at the business." |
The funeral of Mr Stobart took place at Carlisle Cathedral last month. The proceedings were relayed to about 200 people watching large television screens outside. | The funeral of Mr Stobart took place at Carlisle Cathedral last month. The proceedings were relayed to about 200 people watching large television screens outside. |
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