Cardiff Container Link in administration

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.

A rate cut on a major contract with Debenhams, combined with the owner’s long-term absence due to serious illness, helped tip haulier PMP-Forward into administration, according to Portland Business Recovery.

Key factors leading to Surfair Global Logistics demise were the owner’s inability to spend “sufficient time” at the business, due to a family bereavement, and an “unexpected trading loss” after inaccurate reporting of the company’s financial position.