CIty Link goes into Administration

[Paul Bulpit]

Breaking news:
http://www.bbc.co.uk/news/business-30602326

[guccij]

Lots of sympathy for all those who will lose their jobs, none at all for the city investors who've got out unscathed.

[chris ashdown]

We were told by a non connected person on Monday 22nd that citylink were going to call in administrators on the 24th

We checked with a citylink driver on the 23rd and he new nothing

No understanding how our contact new so long before when only broke in the news on late 24th

[saucysal]

We were told over a year ago

We use a middle-man firm for our despatches, and they changed us away from City Link over a year ago in anticipation of what has happened this Christmas, and because delivery depots had been shut. Anybody following the news would have known there was trouble ahead. They were making a huge loss, were taken over for £1 a year ago, and all indications that would fail.

Sarah

[guccij]

They were sold for a £1 to a man who knew he could asset strip, line his own pockets, then dump thousands of workers on the dole. And you, the taxpayer, are picking up the tab for their redundancy. He walks away with £20m. This is how capitalism works.
Come the revolution, hedge fund managers, bankers and private equity monsters will be first against the wall.

[mje]

Such a shame that a company that is actually very good at what it did folds. Maybe employing folk put them at a big disadvantage to the couriers that operate franchise vans.

We use APC as they are licensed to ship our fish and the guy who comes here told me he gets £2 for every drop off but nothing for collecting - he likes Saturday deliveries as he gets £10 for each!

Presumably the City Link volume will get spread around the other couriers and maybe a few jobs will be created