City Link appoints administrators at Christmas after substantial losses


 

City Link appointed administrators on Christmas Eve, temporarily suspending all operations over Christmas, citing continued “substantial losses over several years” and admitted it would be unable to accept new parcels due to the further losses it would incur. Administrators Ernst & Young’s (EY) also revealed that it had failed to identify a buyer for the company, despite putting it up for sale before the administration process had begun. A spokesman for  EY told Motortransport.co.uk that: “No buyer has been identified […]