Another bit of remote BR history bite the dust on late evening of Xmas Eve, when City Link Parcels went into official receivership, City Link started in 1969 as a private business, on the back of BR Red Star Parcels, up until then you could only send Red Star parcels on passenger train routes, so a Red Star parcel from say Dover to Norwich was not possible, City Link filled the missing link by transferring Red Star parcels across between the London Terminal Stations, they later went on to set up a network of Agents across the Country, that would collect a Red Star parcel from the receiving Red Star Station and deliver the parcel to the door of the Consignee. City Link went on later to become a typical mainstream parcel company, by 2005 they had bought out all their Franchisees, taking all the business all in house. They had been in financial trouble for quite sometime that seemed to mainly stem from their takeover of their rival, Target Express Parcels, then in 2013 the then long time owners Rentokill Initial plc, sold City Link for just £ 1.00 to Private Equity Company and it seems it followed a sharp downfall, like many other businesses sold to Private Equity, such as Comet etc, with City Link employees and City Link self employed van drivers likely to get burnt the most, seeing little if any of the money that they are due from City Links Official Receivers.
Posted on: Sun, 28 Dec 2014 10:24:28 +0000
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