City Link narrowed its losses by 54% in 2012, but a reduction in volumes from higher margin B2B customers meant that its performance was behind the expectations of parent company Rentokil Initial. The parcel firm’s pre-tax loss shrunk to £35.9m for the year ended 31 December 2012, from a loss of £78.3m in 2011. City Link said it the reduction had come from improvements to driver efficiency, which saw it move to a variable pay scheme for owner-drivers and improve drivers’ routes. It also reduced trunking, warehouse […]
The government has rejected calls from two select committees for an urgent change in insolvency law, after the collapse of City Link last Christmas left sub-contractors and non-secured creditors £30m out of pocket.
TNT Express has extended its delivery before noon service to more locations across Europe, including the UK.