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 […]
Gregory Distribution Limited snapped up the business, assets and goodwill of collapsed Oxfordshire firm Interoute Transport Services for just £75,000, according to the firm’s administrators.
Last month MT exclusively revealed that Yodel chief executive Jonathan Smith is to leave the parcels firm after two years in charge of the combined DHL Express Domestic UK and HDNL (not to mention 18 months in charge of the DHL business alone). Smith’s CV shows more than 20 years’ experience in parcels, including a spell as chief executive of City Link – before its problematic take-over of Target Express – and a regional director role at British Rail’s parcels […]
Gloucester-based parcel delivery firm Lima Logistics collapsed into administration as a direct result of the Covid-19 pandemic, its administrators have said.