City Link rescue talks stall over valuation

City Link rescue talks stall over valuation

31 December 2014

RMT Press Office

Mick Cash General Secretary said. "The union has been made aware that rescue talks aimed at maintaining City Link as a going concern have stalled at the eleventh hour leaving thousands of jobs hanging by a thread. We are seeking urgent clarification from the administrators as to the current position and an assurance that the redundancy process will be halted.

"RMT believes that the gap could be in the region of £3 million, a sum dwarfed by lost tax and vat revenues and the public liability for redundancy costs. We are calling on Vince Cable to step in as a matter of urgency to offer some brokerage to bridge this gap before it is too late and it is essential that the administrator puts the brakes on the redundancy notices to give these negotiations a chance. "
 
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