Mayer Brown, Macfarlanes and Gateley are all acting on the administration of parcel delivery company City Link following its collapse on Christmas Eve.
Macfarlanes is acting for the administrators from EY, Hunter Kelly, Charles King and Tom Lukic, who were appointed on 24 December 2014 with M&A and private equity partner Simon Perry, restructuring and finance partner Jat Bains and senior counsel and head of insolvency Simon Beale leading. The firm also acted for Better Capital, which owns the Coventry-based company, on EY’s appointment.
Better Capital took the decision to place City Link into administration after having written down its £40m investment by 50% to £20m. City Link has been operating as a delivery company across the UK and Ireland for over 40 years, with an annual revenue of around £300m. According to its website, it has a fleet of 1,700 collection and delivery vehicles, with a national network of over 50 corporately owned depots.
Mayer Brown and Gateley advised City Link companies prior to the administration, with corporate restructuring partner Brendan McGeever leading for Gateley, along with insolvency and restructuring partner Daniel French. Meanwhile, Devi Shah, joint head of restructuring, bankruptcy and insolvency group in London led for Mayer Brown.