City Link’s administrators have made more than 2,300 staff at the failed business redundant. Following the parcel carrier’s collapse into administration on Christmas Eve, Ernst & Young confirmed that although an offer was made for the business by a consortium, it offered “no money up front and significantly undervalued the assets to be acquired”. The administrator has now made 2,356 redundancies across the City Link’s UK sites, retaining 371 people to deal with the parcels that remain within the company’s […]
City Link and its former parent Better Capital are “morally, if not legally, responsible” for the financial difficulties that some of its creditors now face, a group of MPs looking into the collapse of the company have said.
The administrator for Tachodisc said it is not possible to provide an accurate estimate of when unsecured creditors are likely to receive the money they are owed.
Davis Haulage, which was sold to Buffaload Logistics for £1.8m late last year, got into trouble after overextending itself, according to a report from administrator Leonard Curtis.