Stop the City Link Robbery – Open the Books!
Better Capital boss and Tory/UKIP donor Jon Moulton
It is becoming more and more evident that “Better Capital” had one intention from their ownership of City Link, and at the moment they appear to have achieved that aim at the expense of the livelihoods of thousands of ordinary working people around the country, very many in my home city of Coventry.
They appear to have taken the money and ran!
They are even leaving the taxpayer to foot the redundancy bill for those “fortunate” enough to qualify.
Even the bare minimum the publicly funded scheme offers is too much for what is expected to be left, after they cynically walked away on Christmas Eve leaving the RMT the thankless task of spending Christmas Day announcing the collapse of City Link to the press, media and as many of the affected members as possible.
Nobody deserves to find out that their job is very likely to go when they tune in to hear the Queen’s Speech with friends and family!
It just shows the absolute lack of respect the owners showed for those ordinary working people that made their business possible and a total absence of any common human decency.
Some may argue that common decency has no part in business but maybe that is a fundamental problem with the way some people do business?
The owners did nothing except buy a couple of days extra time for themselves whilst they planned their escape route, like bank robbers carrying a well planned and executed heist.
They were in talks with insolvency experts in November. They kept it secret. The administrators have confirmed this.
They intended to hold the news back until after Christmas.
According to the administrators the firm was insolvent on Dec 22nd.
Why WAS it insolvent at any point?
City Link appears to have been asset rich when Better Capital paid just £1 for a company they admitted was well on its way to viability, even under the previous management.
Where are these assets now or the funds they realised from them?
Better Capital doesn’t appear to have put in half the money to the firm that they promised to, and yet City Link has run out of money?
The RMT, supported by an ever increasing number of people and trade unions, are demanding that an immediate investigation is launched into the activities of Better Capital, and that the Business Secretary meets them and affected parties NOW rather than sometime in January before it’s too late.
The company should open the books to the workers and the RMT so we can see where the money’s gone – and the company should be nationalised to save 3000 workers’ jobs.
We need to start fighting back quickly – the bosses already have a head start!
Lee Cooper, Coventry RMT No. 1 Branch Secretary (elect), personal capacity