City Link administration report shows how much creditors lose out


 

The publication of a progress report by City Link’s administrator earlier this week highlights just how much of a rough deal creditors get when a company goes into administration. Administrator Ernst & Young (EY) believes that non–preferential creditors, which include trade creditors who are collectively owed more than £30m, will only receive about 1p for every pound they are owed by the failed parcel firm- half of the 2p they were told to expect in February. With some of City […]