Investors and employees lose as Better Capital owned City Link is placed in administration


#1

With employees learning on Christmas Eve that they were likely to lose their jobs it meant a miserable holiday for them, but investors are also suffer
[See the full post at: Investors and employees lose as Better Capital owned City Link is placed in administration]


#2

The unions are a disgrace for what they’ve said about Better Capital and Jon Moulton. At least he tried to turn around what was a business already on its knees, I mean Rentokil sold it for £1 FFS!

The unions seem to think that because Better Capital tried to sort City Link out they’re now responsible for paying full redundancy terms to all the workers.

Better Capital have lost at least £20 million of their investors money, maybe more.

It’s like imaging you found someone ill in the street, took them to hospital and the Doctor’s turning round to you and telling you that you’ve got to pay for their respite because you helped.


#3

Yes I agree with you @mousy. It’s as if the unions want to punish someone just for having a go. Just for having a go your described as “money-grabbing evil of private equity so callously represented by Jon Moulton and Better Capital” - pure vile.

If you ask me the union leader Mick Cash is pure evil for saying such a thing.


#4

The more important point for me is Better Capital has acquired to much of a knack for losing money. Both of their funds are down but particularly the 2012 fund.

The cost of new deals in the PE sector has shot up so much you find PE managers chasing rubbish businesses such as City Link which was always a dog in a structurally challenged industry.

That union leader should be arrested for what he’s said about Jon Moulton however.