John Caudwell lost £3m in City Link failure
Mr Caudwell, who sold Phones4U for £1.4bn in 2006, is the biggest investor in the Better Capital fund
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.John Caudwell, the founder of the collapsed Phones4U mobiles retailer, lost about £3m from the collapse of the City Link courier business over Christmas, The Independent has learnt.
Mr Caudwell, who sold Phones4U for £1.4bn in 2006, is the biggest investor in the Better Capital fund that bought City Link from its previous owner in April 2013.
Jon Moulton, who founded Better Capital and said he expected to lose £2m from City Link’s collapse, said he had spoken to Mr Caudwell before Christmas and that the entrepreneur had been “philosophical” about the loss. “People do not invest in turnaround funds expecting an easy ride on every deal,” said Mr Moulton.
Mr Caudwell controls a fund manager, Signia, where Mr Moulton has been an adviser. Mr Moulton’s son also worked there in the past.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments