DX Group has sold five of its properties and taken a loan from its biggest shareholder to pay back a bank loan. The group has committed to a sale and leaseback of its sites in Thatcham; Basildon; Rotherham; Northampton and Nottingham. The deal with Chancerygate (Livingston) is due to complete on 29 September. The sale of the land is to repay a term loan to HSBC, and DX Group had considered selling its Willenhall freight hub in order meet the […]
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.
TNT Express said it does not expect to see the full benefit of its profit improvement strategy until 2018-19, as it admits it did not acheive the turnover and profitability it expected in 2014.
City Link’s profit and volumes suffered as it fell victim to lower than expected demand during the Olympic Games. The parcel firm posted a turnover of £76.2m for the three months ending 30 September, a 2.4% increase on the same period in 2011. It is the first time City Link has reported year-on-year growth in the last five years, Managing Director Dave Smith said. It made an adjusted operating loss of £5.5m in the third quarter, a 19.1% rise on […]