City Link parent Rentokil Initial is optimistic the troubled parcel carrier is on the road to recovery despite its latest results showing losses increased in the first three months of the year. In his statement to the market, Rentokil Initial CEO Alan Brown, says City Link losses were higher than the previous year but that performance of the business improved through the first quarter as its new management team started to implement their plans. Brown adds: “We expect a significant […]
The collapse of City Link triggered an influx of additional volumes into the large parcels market, Panther Warehousing MD Colin McCarthy has said.
An Employment Tribunal has ruled that City Link failed to properly consult with its employees ahead of its administration in December 2014, and has awarded over 700 ex-staff a maximum pay-out of around £2.5m.
Royal Mail Group has warned of overcapacity in the parcel market, which is leading to downward pressure on pricing, despite it handling over one billion items in a financial year for the first time.