Creditors of collapsed parcel firm City Link are likely to receive just 1p for every pound they are owed, according to the company’s administrator. In its latest progress report, administrator Ernst & Young (EY) revised down the amount that non-preferential creditors should expect to receive. When it published its proposals for the administration in February, EY expected creditors would receive a dividend of 2p in the pound. However the administrator admitted that the final amount available to non-preferential creditors, including […]
Former City Link manager Sarah Squire has built a business carrying irregular parcels, and says that by cutting out the hub and keeping the business transparent, she will keep it from meeting her former employers’ fate.
City Link’s administrators have made more than 2,300 staff at the failed business redundant.
City Link is to extend its relationship with postal service Secured Mail from mid-February to include mail items. It already collects larger packets and parcels from businesses and the new collaboration allow it to extend the service. Secured Mail accesses Royal Mail mail centres and collects its customer’s mail. It then transports the mail back to its own hubs for sorting and then distributed nationwide, using its own fleet of vehicles for ‘final mile’ delivery. The partnership is something that […]