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City Link In Administration 2700 Jobs At Risk

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Better Capital headed by veteran venture capitalist John Moulton bought City Link from Rentokil Initial last year for £1.

The article then goes on to say Better Capital have been forced to write down £40 million in assets.

So the lion (Rentokil) left the carcass to the Vultures to tear bits off (Better Capital). I doubt either went hungry.

Worryingly my neighbour works for them.

Edited by longtomsilver

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The only thing city link had going for them was the were better than Yodel(formerly Home Delivery Network, big hint changing the name didn't improve your business).

This is why I know check when ordering that I can have parcels delivered by royal mail.

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No need to do this on Christmas day

no. but it's not fair on the poor creditors to compel them to extend their credit any further - what about small private businesses that need to know about their courier's insolvency so as not to pay any money to them - what about the jobs that they're providing? what if they lost them because of money accidentally dropped into an insolvent black hole?

in all seriousness, no-one is celebrating that people shall lose their jobs, but bleeding heart socialism won't make thiongs any better

Edited by Si1

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Must've been better than MyHerpes. They truly are shite.

I've posted dozens of parcels with them and never had a problem.

Wonder what's going to happen to all the parcels stuck at Citylink.

Presumably no-one is going to deliver them.

So they will have to be collected from the depots.

But how will the customers know they have a parcel waiting for them?

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I've posted dozens of parcels with them and never had a problem.

Wonder what's going to happen to all the parcels stuck at Citylink.

Presumably no-one is going to deliver them.

So they will have to be collected from the depots.

But how will the customers know they have a parcel waiting for them?

I've generally found City Link better than the other couriers.

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part of the admistration process is to wind down the company in an orderly manner AFAIK. I would think that would involve delivering all the parcels that are in transit, but probably not taking on any more.

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I've generally found City Link better than the other couriers.

I found Dr Harold Shipman a more considerate serial killer than Peter Sutcliffe.

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part of the admistration process is to wind down the company in an orderly manner AFAIK. I would think that would involve delivering all the parcels that are in transit, but probably not taking on any more.

Yep. There will not be a lot of packages in transit, esp. on xmas eve, which is probably the best day to fold a business like this.

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it may have been Christmas that did the damage - they have to hire large numbers of temps to add extra capacity, and may have had a cashflow crisis as a result

furthermore, here is the statement about what they are doing with parcels still in transit:

(From the telegraph)

EY, which has been appointed as administrator, said operations at City Link transport hubs and depots will be suspended until December 29. "City Link Limited will no longer be able to deliver any further parcels and customers are urged to make alternative arrangements for future deliveries," EY said in a statement.

It advised customers and clients waiting to send or receive orders to head to their nearest depot after this date to collect their parcels. Customers are also encouraged to use City Link's online tracking system to locate their parcels, which was still running on Christmas Day.

Edited by Si1

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+1

With Royal Mail they leave your parcel at a close post office if you are not in for pick up. Citylink return it to their depot. I once had to travel 100 mile (return) to pick up a parcel!.

Generally it seems that no matter how small a item you order the packaging won't allow it to fit through the letter box.

Yup. Royal Mail is bearable. City Link, for me, involves a taxi ride which is a £20 round trip if it goes to their depot - and its always their depot. There's no point ordering online with City Link, given that. I always ask if it's not Royal Mail first and if it isn't I don't bother.

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When I was in business I used to use City Link for daily timed deliveries to a customer who operated a "Just in Time" system, they never once let me down. Their special contract rates made them competitive, too.

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On their careers page, there are about 50 of these vacancies;

untitled.PNG

Capital in the 21st Century, in a low yield environment, will require people to speculate with their own capital just to secure income from work.

Edited by 200p

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Saw one of their vans delivering locally on Christmas Eve. Poor sod, I wonder if they had any inkling.

Like a few others, I found them no worst or better than others - but it may help living in a rural area. No driver wants to redeliver to the back of beyond if they can help it, and it's a low crime area with trustworthy neighbours who you actually know.

The end result is most couriers here interpret signed for in a slightly liberal manner, and will leave in your shed/porch/with a neighbour. Those that are new will often call ahead to make sure you are in or what you'd like to do.

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I try not to order anything from the internet - I think the drivers/Royal Mail get so stressed. I decide if I actually need it (as opposed to want), and see if I can wait and get it in a shop or do click and collect.

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it may have been Christmas that did the damage - they have to hire large numbers of temps to add extra capacity, and may have had a cashflow crisis as a result

...

Not sure about that. A lot of the slack would surely have been taken up by getting existing staff to work longer hours? And employing temps - often companies will wait weeks or months before paying the agency invoice.

Seems like the management of this company must have been spectacularly bad, considering the continuing rise in eCommerce.

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On their careers page, there are about 50 of these vacancies;

untitled.PNG

Capital in the 21st Century, in a low yield environment, will require people to speculate with their own capital just to secure income from work.

I think the ad is playing on the fact that 50%+ of the population do not understand what 'gross' means.

Bit like all those nurses whinging about 'being paid less than a plumber'.

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