The gates at a City Link depot are padlocked in south London. British courier and parcel firm City Link has gone into administration and many of its 2,727 employees will be made redundant in the coming days, its administrators said. No buyer has been found for the loss-making business, which pest control-to-hygiene group Rentokil Initial sold to private equity firm Better Capital for 1 pound last year, cutting loose a business that had dragged on its performance for years.
