City Link cut its first quarter losses by more than a third but remained loss-making ahead of its sale to turnaround investor Better Capital. The parcel carrier cut its first quarter adjusted operating loss by 36% to £8.1m (2012: £12.7m) during the first three months of 2013. Former parent Rentokil Initial’s first quarter results also revealed that the operator’s turnover was slightly down at £72.7m (2012: £73.5m). Rentokil Initial chief executive Alan Brown said City Link’s results were “in line […]
C Butt left Pall-Ex more than a year ago – just six months after joining – because its first foray into a pallet network failed to live up to its expectations, Motortransport.co.uk has learnt.
TNT Express has appointed Tex Gunning as chief executive after former boss Marie-Christine Lombard resigned in September.
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.