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 […]
One of the longest-standing haulage businesses in Manchester has been saved after it entered administration following a failed attempt to purchase another firm, according to its director.
CM Downton’s deal to buy C&H (Hauliers) has created a haulage group with an annual turnover of more than £114m, and set it on the path to becoming a true 3PL.