Sad news on the job front for people, but I don’t think I recall one time being overtaken by a CL artic that had all his curtain straps done up, they are usually left to blow in the wind!
rastone:
Perhaps I’m a bit thick but after so many years of losing money and “quite a lot” and I notice newish motors and probably leased and some probably contractors how can they get finance ? !!! What are the banks doing again.Just because they have smart looking vans doesn’t mean they’ve got any money.All fur coats and no knickers.
Can a young couple get a mortgage ?
Tony
Turns out that City Link leased the majority of its tractors and vans leaving it with little in the way of vehicle assets according to its administrator. Full article here in Commercial Motor
rastone:
Perhaps I’m a bit thick but after so many years of losing money and “quite a lot” and I notice newish motors and probably leased and some probably contractors how can they get finance ? !!! What are the banks doing again.Just because they have smart looking vans doesn’t mean they’ve got any money.All fur coats and no knickers.
Can a young couple get a mortgage ?
Tony
Turns out that City Link leased the majority of its tractors and vans leaving it with little in the way of vehicle assets according to its administrator. Full article here in Commercial Motor
Vans are mainly leased from Lex Autolease. I was at BCA Blackbushe on Thursday and they can’t move for City Link vans! I think there will be drop in the used value of Transits in the next week or so as the auctions are flooded with them!
Fedex took over ANC they still have a few of their old units at Parkhouse and the Scottish hub at Gretna was ANC.
Got phone call from the agency yesterday (a day earlier than usual) and am doing a Harper Collins run all next week. Fedex Gretna is going to have to take on even more drivers now they’ve got the HCP contract back.
A job hunting reader received a promising-looking email from recruitment agency Reed on the 30 December,saying there is vacancy for a “full time transport and logistics job” in Essex.
Unfortunately, on opening the email,the role turned out to be “City Link Logistics Depot Manager”
Not only is that a job without much future,but not pulling the ad is a fairly tactless move on Reed’s part,given how many ex-City Link employees are currently signing up for job searches.
Abacus (Southampton area) were on traction work, just heard they have been knocked for
£ 190,000 - But they still have a couple of their trailers in their possession. Just waiting to find out if City Link actually owned them or if a rental/finance co will be coming for them
A job hunting reader received a promising-looking email from recruitment agency Reed on the 30 December,saying there is vacancy for a “full time transport and logistics job” in Essex.
Unfortunately, on opening the email,the role turned out to be “City Link Logistics Depot Manager”
Not only is that a job without much future,but not pulling the ad is a fairly tactless move on Reed’s part,given how many ex-City Link employees are currently signing up for job searches.
You don’t think some other “investment company” is going to start up again under a different name, having defaulted all debts and wages of the previous firm - and then attempt to recruit the laid off staff on a “month’s approval” basis?
Personally, I would be very wary of working for any firm of cash looters on a “day’s approval” - let alone a month’s! - What’s to stop THOSE wages being defaulted as well? The fresh start-up could reel in a few days of revenues, run off with all the cash, and do the whole scam all over again.
It’s about time there was an enforced law that prevents money being taken out of a firm in any shape or form that’s been “bought for a nominal price”.
Toddy2:
Just waiting to find out if City Link actually owned them or if a rental/finance co will be coming for them
If they’re not on finance they’re the property of the official receivers. Abacus may be breaking the law if they hold on to them if they’re asked for them. Certainly in County Court you don’t have the right to retain property of a debtor either in lieu of payment or as a security.
It’s bitter sweet for Abacus. Paul started his entire empire with one van on for Target, Abacus came about as a result of his mushrooming C&D fleet (and a few ‘strategic partnerships’ with other van owners), so despite £190k down the swanny, he hasn’t done too bad out of City link in the bigger picture.