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Latest Finance News related to City Link

BHS workers share £1m payout over failed redundancy process image
Source : Guardian [Read Article] Friday 14th of April 2017 06:59:27 AM
.... The Leeds employment tribunal awarded staff up to 90 days’ pay, ruling that staff were misinformed and some made redundant within hours of being consulted. In 2016 lawyers also won an employment tribunal claim on behalf of 340 City Link employees over the failure to properly consult when the parcel delivery firm imploded on Christmas Eve. ...
Royal Mail shareholders unhappy as shares fall seven per cent in first-half results image
....That’s a problem, because UK parcels was supposed to be the growth engine for Royal Mail. The demise of rival City Link in December 2014 has been followed by a host of announcements from other parcel operators warning of pricing pressures, and Deutsche Post stepped into the market through the acquisition of struggling UK Mail in September. ...
Royal Mail says Brexit uncertainty causing dip in junk mail sent by post image
Source : Guardian [Read Article] Thursday 17th of November 2016 12:47:38 PM
.... However, it suffered a 2. 1% drop in average daily parcel volumes, which it blamed on strong growth in the same period last year after taking on customers from City Link, which collapsed in 2015. ...
Deutsche Post agrees to buy UK Mail image
Source : BBC [Read Article] Wednesday 28th of September 2016 08:06:31 AM
....It competes in a crowded marketplace which, despite the rise in online shopping, has had its problems. Delivery firm City Link called in administrators on Christmas Eve 2014, with some of its work being picked up subsequently by UK Mail. ...
The Crusader: Back on track after door-to-door bag transport blunder image
Source : Daily Express [Read Article] Monday 18th of July 2016 07:34:00 AM
....“I was promised an email but that never arrived so I could not check what the insurance terms were. The brief receipt I had says it was sent via a depot of City Link, which then folded,” he adds. ...
Lloyds' private equity arm backs £175m delivery firm CitySprint image
Source : Telegraph [Read Article] Thursday 18th of February 2016 05:38:18 PM
.... . CitySprint's success comes on the heels of the demise of competitor delivery company City Link, which collapsed into administration over Christmas 2014 with the loss of 2,300 jobs. ...
Risk of insolvency hangs over high street retailers after difficult run-up to Christmas image
....Julie Palmer, partner at Begbies Traynor, said: “This year there has been more discounting than ever before from retailers in the run-up to Christmas, as Black Friday deals extended into more severe festive promotions to try and boost lacklustre sales volumes. Related: Three City Link directors to face criminal charges over firm's collapse. ...
Majority of 450 staff at yacht maker Fairline made redundant image
Source : Guardian [Read Article] Tuesday 8th of December 2015 02:01:40 PM
....5m, but it has been hit by a slump in orders from wealthy Russians who have been affected by a deepening recession, falling commodity prices and a weak rouble. Better Capital, which also owned the collapsed parcel delivery firm City Link, said it put Fairline into administration to protect its interests as a senior creditor, after Wessex Bristol failed to inject promised funds into the boat maker that were “essential for it to function as a going concern”. ...
City Link owner Better Capital sees fund lose a fifth of its value image
Source : Telegraph [Read Article] Wednesday 25th of November 2015 10:13:29 AM
. John Moulton’s private equity group Better Capital, owner of collapsed parcel delivery firm City Link, has reported a 22. ...
UK retailers stock up and hope for the best as Black Friday approaches image
Source : Guardian [Read Article] Wednesday 25th of November 2015 07:00:05 AM
.... Some John Lewis staff will be working six days a week after cutting a deal to take extra holiday at other times of the year. The retailer has drafted in four external distribution companies to work with its own fleet, two more than last year when it was nearly caught out by the collapse of City Link. ...
Royal Mail expands same-day parcel delivery image
Source : Telegraph [Read Article] Wednesday 18th of November 2015 08:03:41 PM
.... . The door-to-door letter delivery service arm of Whistl, formerly known as TNT, and parcel firm City Link both folded during the past year. ...
UK Mail profits more than halve amid delays at new delivery centre image
Source : Guardian [Read Article] Wednesday 18th of November 2015 09:27:43 AM
....The British mail delivery market is in a state of upheaval as smaller competitors such as UK Mail battle for customers with Royal Mail, which was privatised two years ago. City Link, the parcel delivery company, collapsed last Christmas, partly due to intense competition. ...
UK Mail shares plunge after troubled move to new automated plant  image
Source : Telegraph [Read Article] Wednesday 18th of November 2015 08:20:47 AM
.... . City Link's collapse has benefited UK Mail  Photo: Bloomberg. ...
John Lewis boss Andy Street: Black Friday bonanza will stretch parcel firms image
Source : Daily Express [Read Article] Sunday 15th of November 2015 12:01:00 AM
....Last year Britain’s second-biggest parcel firm Yodel was forced to suspend deliveries after a surge in Black Friday and Cyber Monday orders left it with a crippling backlog. Rival City Link struggled to fulfil its orders before going under at Christmas. ...
City Link directors acquitted over firm's 2014 collapse image
Source : Guardian [Read Article] Friday 13th of November 2015 01:43:18 PM
. Three former directors of City Link have been acquitted of criminal offences over the collapse of the delivery company after a magistrate questioned the government’s use of a “retrospective crystal ball” to prosecute them. ...
Lonmin joins the list of corporate catastrophes image
Source : Telegraph [Read Article] Saturday 7th of November 2015 01:59:12 PM
.... . 2014 saw a couple of calamities but none more spectacular than City Link, which suffered the ignominy of collapsing into administration on Christmas Day. ...
Directors of failed City Link to face criminal charges over collapse  image
Source : Telegraph [Read Article] Wednesday 14th of October 2015 05:16:23 PM
.... . Three former directors of City Link, the parcel delivery group, which collapsed over Christmas leaving almost 3,000 people jobless, have been charged with criminal offences relating to the company’s failure. ...
Ex-City Link directors to stand trial image
Source : BBC [Read Article] Wednesday 14th of October 2015 03:25:24 PM
. Ex-directors of failed parcel firm City Link are being prosecuted under section 194 of the Trade Union and Labour Relations (Consolidation) Act 1992. ...
Three City Link directors to face criminal charges over firm's collapse image
Source : Guardian [Read Article] Wednesday 14th of October 2015 01:09:34 PM
. Three former directors of City Link have been charged with criminal offences in relation to the collapse of the delivery company, which led to the loss of 3,000 jobs last Christmas. ...
Change at Better Capital as founder Mark Aldridge leaves 'amicably' image
Source : Independent [Read Article] Tuesday 15th of September 2015 04:45:00 AM
.... . Mr Moulton was forced to answer questions from MPs earlier this year after the courier company he backed, City Link, collapsed into administration at the cost of 2,000 jobs. ...
Source : Independent [Read Article] Saturday 8th of August 2015 04:15:00 AM
.... . Many of the odd-shaped parcels are understood to have been those inherited from City Link customers, after that parcel business went bust at the start of the year. ...
UK Mail shares tumble after profits warning image
Source : Guardian [Read Article] Friday 7th of August 2015 09:06:45 AM
....”. The company benefited from the collapse of rival City Link late last year, handling record volumes of mail over Christmas. ...
UK Mail warns on profits after influx of oversized parcels overwhelms new hub  image
.... . But operational challenges aside, trading so far this year has been good, with overall volumes up 6pc in the first four months, as UK Mail increased its market share and capitalised on the demise of rival delivery firm City Link in January. ...
Royal Mail letter revenues fall in 'challenging' trading image
Source : Guardian [Read Article] Tuesday 21st of July 2015 09:04:52 AM
...., which is Royal Mail’s commitment to deliver to all parts of the UK at a flat rate, six days a week. Related: City Link’s army of self-employed workers count cost of business failure. ...
Royal Mail boosted by Whistl blow image
Source : Daily Express [Read Article] Sunday 19th of July 2015 08:55:00 PM
. The letter-delivery service arm of Whistl and parcel firm City Link both folded within the past seven months, highlighting strength of the competition in the sector and raising concerns about the universal postal service the Royal Mail is tasked with maintaining. ...
Royal Mail could be forced to cap prices image
Source : Daily Express [Read Article] Friday 17th of July 2015 05:37:00 PM
. The regulator is concerned that there are not enough players in parts of its markets, after the letter delivery service arm of Whistl and parcel firm City Link both folded in recent months. ...
Royal Mail down on Ofcom review image
Source : BBC [Read Article] Friday 17th of July 2015 03:09:26 PM
....Ofcom, which first announced the review last month, is concerned at the reduction in competition in parts of the letters and parcels markets. The letter delivery service arm of Whistl and parcel firm City Link both folded in recent months. ...
....Goldman was the bank criticised for pricing the group’s shares at 330p, only to watch them breach 600p just three months after its IPO. The shares have risen 18 per cent in 2015 as its parcel delivery rivals, including the now-bust City Link and main competitor Whistl, have floundered. ...
Marks & Spencer expands free click-and-collect days after John Lewis introduces charge image
.... . Andy Street, managing director of John Lewis, had previously pointed to the collapse of delivery firm City Link last Christmas as evidence that “illogical” business models have to change for retailers and logistics groups. ...
China is panicking over a market bubble. What would it do in a real crisis? image
.... Andy Street, managing director of John Lewis, had just the word to describe this sales model: “bonkers”. The collapse of City Link – which delivered goods for John Lewis – at Christmas shed light on the cost pressures of home deliveries. ...
Online shopping is king - high street stores must adapt or die image
Source : Telegraph [Read Article] Thursday 2nd of July 2015 07:27:55 PM
.... . Andy Street, the boss of John Lewis, said that the business model for online shopping was becoming “unsustainable” and “bonkers”, pointing to the demise of delivery firm City Link. ...
John Lewis to charge £2 for click-and-collect image
Source : Telegraph [Read Article] Wednesday 1st of July 2015 04:17:58 PM
.... . He pointed to the collapse of delivery firm City Link last Christmas as evidence that “illogical” business models had to change for retailers and logistics groups. ...
Royal Mail lifts profits as parcel growth unravels image
Source : Independent [Read Article] Thursday 21st of May 2015 11:49:14 PM
....”. City Link collapsed last Christmas and earlier this month Whistl decided to pull out of doorstep deliveries in three UK cities. ...
Questor share tip: What Royal Mail results mean for investors image
Source : Telegraph [Read Article] Thursday 21st of May 2015 02:43:58 PM
.... Whistl, was until last week the only other company that decided to compete with Royal Mail in door-to-door letter delivery, but it suspended operations after mounting losses. Rival parcel delivery group City Link collapsed last December. ...
Privatised Royal Mail enjoys rise in profits despite fewer letters being sent  image
Source : Daily Express [Read Article] Thursday 21st of May 2015 10:30:00 AM
...."Our trading environment remains challenging, but we are now poised to step up the pace of change to drive efficiency, growth and innovation, while maintaining a tight focus on costs. "The results come after rivals Whistl and City Link ceased operating. ...
Royal Mail keeps tight grip on costs as parcel revenue falls image
Source : Telegraph [Read Article] Thursday 21st of May 2015 06:56:31 AM
.... . "Whilst the exit of both City Link and Whistl may have removed some of the competition, it also serves to underline how tough this sector can be. ...
Raiders come calling with a rescue remedy image
Source : Telegraph [Read Article] Saturday 16th of May 2015 03:00:30 PM
.... Waterford Wedgewood is one of many broken UK companies that ended up in the hands of turnaround funds during the recession. Such investors have often come under fierce criticism for their aggressive, ambulance-chasing approach and for presiding over several spectacular collapses such as City Link or Comet. ...
Whistl suspends postal deliveries and tells 2,000 staff to go home image
Source : Independent [Read Article] Monday 11th of May 2015 07:36:42 PM
....“Our first reaction to this news is concern for the workers who have lost their jobs,” he said. “This is of course a difficult time for them and their families and coming less than six months after City Link folded, is the most recent effect of a crowded post and logistics market. ...
Exclusive: MPs set to fight threat to axe Business, Innovation and Skills department image
....If he wins Mr Bailey will find that he leads a very different committee than in the last parliament, with five of its 11 members gone from the House of Commons. Tough-talking Conservative Brian Binley, who at a hearing in January condemned the buyout baron Jon Moulton over the Christmas collapse of the parcel delivery firm City Link, stood down before the election. ...
Questor share tip: Rat-catcher Rentokil has much to offer image
Source : Telegraph [Read Article] Tuesday 5th of May 2015 05:59:08 PM
.... Pest control represents about 40pc of Rentokil's total revenues . The trio never got anything like that amount as customers cutting back in the wake of the recession hit Rentokil’s performance and its troubled City Link parcel delivery unit proved to be a huge anchor on profits. ...
Why Britain's parcel couriers are still struggling to deliver image
Source : Independent [Read Article] Friday 10th of April 2015 12:16:00 AM
....Just over three months have passed since a delivery company famed for its green and yellow vans collapsed into administration. City Link failed after suffering substantial losses over several years. ...
Former boss of CityLink moves to TNT as finance chief image
Source : Independent [Read Article] Tuesday 7th of April 2015 10:56:19 AM
. The former finance director of the City Link, the delivery company which left around 2,700 people out of work when it collapsed over Christmas, has been hired by the Dutch logistics giant TNT. ...
MPs' report on City Link collapse unjust, says Better Capital image
Source : Guardian [Read Article] Monday 30th of March 2015 06:13:54 PM
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City Link owner slams MPs for accusing him of 'deliberate deception' image
Source : Telegraph [Read Article] Monday 30th of March 2015 05:02:08 PM
. Jon Moulton has hit back at MPs who accused his company of "deliberate deception" over the collapse of parcel delivery firm City Link. ...
Employees hit hardest by harsh insolvency system image
Source : Daily Express [Read Article] Monday 23rd of March 2015 09:30:00 AM
.... Any fine will be paid by the taxpayer, noted the Business and Scottish Affairs select committees. Mick Cash, leader of the Rail, Maritime and Transport union, said the "shocking" report vindicated its complaint about the "carefully engineered collapse" of City Link. ...
City Link staff were 'deliberately deceived' about the collapse of the company, MPs say image
. City Link employees were “deliberately deceived” about plans to put the parcel business into administration before they were sacked on Christmas Eve, MPs allege. ...
City Link owner attacked by MPs for 'abandoning' staff at Christmas image
Source : Independent [Read Article] Monday 23rd of March 2015 12:13:05 AM
. MPs have criticised the private equity owner of City Link for “abandoning” nearly 4,000 staff and contractors when the delivery firm went into administration on Christmas Eve. ...
City Link 'deliberately deceived' workers and firms about its financial troubles image
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City Link administrators confirm suppliers will get almost nothing image
Source : Telegraph [Read Article] Saturday 21st of March 2015 07:30:48 PM
. City Link’s creditors are likely to see less than 2p in the pound on any money they are owed following the delivery company’s collapse, its administrators have confirmed. ...
Source : Independent [Read Article] Friday 20th of March 2015 01:22:58 AM
.... . The veteran venture capitalist’s firm is best known for putting its delivery business, City Link, into administration on Christmas Eve. ...
Walkabout's new owners Better Capital plot new pubs image
Source : Independent [Read Article] Thursday 19th of March 2015 11:10:30 AM
.... . Veteran venture capitalist Moulton’s Better Capital is best known for having put its delivery business City Link into administration on Christmas Eve. ...
The Doctor knows the secret of handling entertainment’s high-maintenance stars image
....While the public outcry continues over bankers’ misdeeds, private equity has become private once again. It has all but shed its “locust” reputation – although the Christmas collapse of Jon Moulton’s City Link parcel chain set the industry’s reputation back a bit. ...
MPs call for Ofcom powers to improve postal standards image
Source : Independent [Read Article] Thursday 12th of March 2015 01:17:19 AM
....The CWU postal union’s strong membership within Royal Mail has secured better terms for workers, although 48 per cent of Whistl’s staff are on zero-hours contracts, the report said. That has put Royal Mail at a competitive disadvantage to many other rivals in a cut-throat market, which saw City Link collapse last Christmas with the loss of 5,000 jobs among staff and contractors. ...
MPs fear postal market changes image
Source : BBC [Read Article] Thursday 12th of March 2015 12:12:02 AM
.... . Following the collapse of City Link over Christmas, Mr Bailey said it was important that greater competition in the postal sector did not worsen pay, terms and conditions for postal workers. ...
Why building a better mousetrap is helping turn Rentokil around image
Source : Telegraph [Read Article] Friday 27th of February 2015 12:40:48 PM
.... . The Christmas collapse of delivery company City Link, which Rentokil sold to Jon Moulton’s Better Capital two years ago, would have no effect on the business, Mr Ransom said. ...
Vince Cable's middling grade as Business Secretary is well-deserved image
Source : Independent [Read Article] Friday 20th of February 2015 01:23:40 AM
.... The Business Secretary will be asked why he has not solved that conundrum, despite getting the jobless into work. On a more recent development, Mr Cable will be questioned over what exactly the Department for Business knew about City Link’s fate in the days and weeks before the private equity-owned courier went into administration on Christmas Day. ...
City Link collapse leaves suppliers £39m out of pocket image
Source : Telegraph [Read Article] Sunday 15th of February 2015 08:30:08 PM
. City Link owed its suppliers £30m when it controversially collapsed into administration on Christmas Eve, documents from the company’s directors have revealed. ...
City Link staff not told about administration to 'protect the business' image
Source : Telegraph [Read Article] Wednesday 4th of February 2015 08:01:59 PM
. Administrators at failed parcels delivery business City Link wanted to wait four days before telling staff the business could not survive in order to protect the company’s assets. ...
Private equity baron angers MPs with City Link defence image
Source : Independent [Read Article] Wednesday 28th of January 2015 01:36:12 AM
. The private equity baron Jon Moulton has infuriated MPs after claiming that managers at City Link, which went into administration on Christmas Day, deserved “seven or eight out of 10” for their work. ...
City Link owner Jon Moulton says overtime will be paid image
Source : BBC [Read Article] Tuesday 27th of January 2015 10:04:47 PM
. City Link employees will receive overtime payments, according to the founder of the company which owns the collapsed parcel delivery firm. ...
Jon Moulton defends City Link Christmas collapse before MPs image
Source : Guardian [Read Article] Tuesday 27th of January 2015 07:53:44 PM
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City Link: Better Capital lost £20m on collapse, says Jon Moulton image
Source : Telegraph [Read Article] Tuesday 27th of January 2015 04:21:21 PM
. The head of the private equity firm which owned City Link when it went into administration on Christmas Eve said it lost £20m on the parcel delivery firm – and that trying to turn around the business was a “mistake”. ...
City Link collapse: MPs to question Jon Moulton image
Source : Guardian [Read Article] Tuesday 27th of January 2015 09:42:48 AM
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Standard Chartered's problem is that Peter Sands' deputy is just as deluded as he is image
.... . But that is nothing compared with the flak he received after Better Capital, the private equity investor which he runs, decided to place parcel delivery service City Link into administration on Christmas Eve. ...
Royal Mail delivers growth and predicts demise of rivals image
Source : Independent [Read Article] Friday 23rd of January 2015 01:09:47 AM
....The boss of Royal Mail expects rival parcel-delivery companies to disappear amid intense competition, claiming “there’s too much capacity” and that the current low prices are unsustainable. After City Link and Yodel toiled in the run-up to Christmas, Royal Mail’s Canadian chief executive, Moya Greene, hinted that more firms could collapse this year, saying: “There’s too much capacity in the market, and it’s put pressure on prices. ...
Royal Mail ‘under pressure’ despite extra trade from City Link collapse image
Source : Guardian [Read Article] Thursday 22nd of January 2015 07:20:02 PM
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Royal Mail shares jump on record Christmas image
Source : Telegraph [Read Article] Thursday 22nd of January 2015 05:58:18 PM
.... . City Link, which collapsed into administration last month, was the first victim of falling prices but it certainly won’t be the last. ...
Royal Mail: 'This year, big retailers will realise that quality counts and it's worth paying for' image
. The boss of Royal Mail has claimed that 2015 is the year that "big retailers will realise that quality counts" and opt for its services after rivals City Link and Yodel struggled in the crucial run-up to Christmas. ...
Parcel improvement boosts Royal Mail's revenues image
Source : Telegraph [Read Article] Thursday 22nd of January 2015 09:18:29 AM
Buy UK Mail on record parcel numbers image
Source : Telegraph [Read Article] Saturday 17th of January 2015 08:00:55 PM
.... UK Mail 500p Questor says BUY . The demise of parcel delivery firm City Link was good news for rival operator UK Mail [LON:UKM]. ...
UK Mail reaps benefits of City Link collapse image
Source : Guardian [Read Article] Tuesday 13th of January 2015 02:30:21 PM
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City Link demise benefits rival UK Mail image
Source : Guardian [Read Article] Tuesday 13th of January 2015 11:03:26 AM
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Source : Independent [Read Article] Saturday 10th of January 2015 01:59:45 AM
.... This is especially the case for those in what the City refers to as “turnaround situations”. That goes as well for a private company like the parcel delivery firm City Link or a hospital caring for the sick and injured like Hinchingbrooke. ...
Source : Independent [Read Article] Saturday 10th of January 2015 01:48:37 AM
. The venture capitalist Jon Moulton – who closed the delivery group City Link at Christmas with 2,700 job losses – had to cut prices at Jaeger to protect sales over the festive period. ...
Hundreds of jobs at risk as Mike Ashley prepares to close USC stores image
Source : Telegraph [Read Article] Thursday 8th of January 2015 05:00:17 AM
.... . USC's troubles follow the recent collapse of both City Link, the parcels delivery firm, and Bank, another high street retailer. ...
City Link: Better Capital labelled 'bandits' after further job cuts image
Source : Telegraph [Read Article] Wednesday 7th of January 2015 07:14:09 PM
. The former owners of collapsed delivery firm City Link were labelled “bandits” by union representatives on Wednesday after further job cuts at the company. ...
City Link: further 230 redundancies add to ‘tide of human misery’ image
Source : Guardian [Read Article] Wednesday 7th of January 2015 04:00:25 PM
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City Link: Further redundancies as depots close down image
Source : BBC [Read Article] Wednesday 7th of January 2015 02:40:00 PM
. The administrators of collapsed parcel delivery company City Link have announced a further 230 redundancies at the firm, taking the total to 2,586. ...

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