There is so much in this article, its got to be worth a debate: news.sky/story/1397670/2700-jobs-at-risk-as-city-link-collapses 1. John Moultons Better Capital buys it from the founders for £1 a year ago, and ploughs in £40M 2. They then make the comment blamed the worsening outlook on excess (and increasing) capacity in the sector, made worse by customers developing their own delivery capabilities = the infamous last mile problem, which Yodel overcome by throwing your package over the fence/delivering it somewhere else!!! 3. City Links website said it had annual revenues of approximately £300m, a fleet of 1,700 vehicles and delivered 60m items each year = and you thought that a £40M investment/15% of TO would make a difference? 4. They make the administration announcement post the biggest profit making period of the year? Employees get min payout, major creditors (such as Better Capitol) get all of their money back, mainly contract delivery agents get not a lot/pennies in the pound. This is a long term loss making business, but with a good brand. Could a better management team and more action not have made a difference?
Posted on: Fri, 26 Dec 2014 22:44:49 +0000
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