City Link’s administrator has revised up the amount it believes non-preferential creditors are owed by the collapsed parcel carrier. However, it said it is still waiting to hear from creditors that are owed a total of £12.8m that have not submitted a claim. As of 24 June non-preferential creditors had made claims totalling £46.7m, up from the estimated £27.2m administrator Ernst & Young (EY) reported in July 2015. In its latest progress report, EY said it intends to write to […]
Simpson Logistics ran out of road due to a customer dispute and creditors chasing payment, says administrator
Administrators handling the affairs of County Durham haulier Simpsons Logistics said it had stopped trading due to a combination of cash flow issues, a customer dispute and a winding up petition.
A bad debt and the loss of its largest client set off a chain of events that sunk old Canute leading to a controversial rebirth in May, MT takes a closer look.
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.