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 […]
By the time the Beast from the East had done its damage and spring was finally making itself known, official figures showed that there had been 574 insolvencies in UK logistics during the first three months of 2018.
Unsecured creditors of failed Hull-based haulier AR Lunn Transport & Warehousing have received just 4% of the money owed to them, the firm’s administrators have revealed.
City Link is investing in automated sortation at its Coventry hub, which it hopes will increase throughput by 50% and increase capacity for busy periods.