City Link’s administrator has revised up the amount it believes non-preferential creditors are owed by the collapsed parcel carrier. However, it said it is still waiting to hear from creditors that are owed a total of £12.8m that have not submitted a claim. As of 24 June non-preferential creditors had made claims totalling £46.7m, up from the estimated £27.2m administrator Ernst & Young (EY) reported in July 2015. In its latest progress report, EY said it intends to write to […]
Gregory Distribution Limited snapped up the business, assets and goodwill of collapsed Oxfordshire firm Interoute Transport Services for just £75,000, according to the firm’s administrators.
City Link has opened a new depot in Southampton to handle increased demand for parcel collection and delivery in the area.
Transport firms are riding the current Stock Market bubble. This week the FTSE 100 hit its highest level since October 2007 (6,755 on Monday to be precise). While none of the six operators in the MT Tracker basket of transport shares are anywhere near making the FTSE 100, or the FTSE 250 for that matter, the total value of the basket hit a record high today of 1,842.