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City Link staff hold protest outside Scottish depot | |
(about 1 hour later) | |
Workers facing redundancy at the collapsed parcel delivery firm City Link have staged a demonstration outside a depot in North Lanarkshire. | |
Staff learned that the company, which employs 165 people in Scotland, had gone into administration on Christmas day. | Staff learned that the company, which employs 165 people in Scotland, had gone into administration on Christmas day. |
Workers gathered in Motherwell on Monday morning to protest against the prospect of redundancy. | |
Coventry-based City Link employs 2,727 people in the UK. | Coventry-based City Link employs 2,727 people in the UK. |
The RMT union has said it expects more than 2,000 employees to be made redundant on New Year's Eve, with the remainder being retained to wind down the company. | The RMT union has said it expects more than 2,000 employees to be made redundant on New Year's Eve, with the remainder being retained to wind down the company. |
Substantial losses | Substantial losses |
Administrators Ernst & Young said that "substantial redundancies" were expected in the coming days and that it was "cautious" about the prospects of finding a buyer for the business. | |
City Link, which was founded in 1969, was acquired by restructuring specialist Better Capital in April 2013. | City Link, which was founded in 1969, was acquired by restructuring specialist Better Capital in April 2013. |
It invested £40m, but the administrators said City Link had incurred substantial losses over several years and the money could not help it turn the firm around. | It invested £40m, but the administrators said City Link had incurred substantial losses over several years and the money could not help it turn the firm around. |
The company has Scottish bases in Aberdeen, Edinburgh, Glasgow, Glenrothes and Motherwell. | The company has Scottish bases in Aberdeen, Edinburgh, Glasgow, Glenrothes and Motherwell. |