City Link devised turnaround plan before its administration


 

City Link’s management had laid out plans to pull out of the B2C market and refocus the courier’s efforts on attracting higher-margin business shortly before its collapse, it has emerged. A report published by administrator Ernst & Young (EY) also revealed that the troubled parcels carrier saw a net loss after tax of £44.4m for the year to 24 December, on a turnover of £243.5m. In the face of this, City Link’s management had devised a turnaround plan a month […]