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. A report compiled by the Business, Innovation and Skills and Scottish Affairs Committees, which concludes an inquiry into the impact the administration has had, recommended an overhaul of the insolvency regime, including the order in which staff, subcontractors and suppliers are paid. […]
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.
The former directors of collapsed parcel carrier City Link have been cleared of failing to inform the government of impending staff redundancies before it went into administration last year.
Wincanton has told investors that its full year turnover will be lower than 2018’s, after the late start of a number of new contracts failed to offset its exit from several low margin deals.