In this paper a novel receding horizon control scheme is presented for solving networked leader-follower formation control problems in the presence of time-varying time-delay on the communication channel. The algorithm is based on a reachability analysis where a sequence of nested one-step ahead controllable sets has been derived by taking into account the prescribed state and input constraints, the interconnected nature of the system and the time-delay induced by the network latency. The novelty of the proposed scheme relies on its capability to jointly use sequences of one-step ahead controllable sets and polyhedral state-space partitions in order to compute on-line an admissible and optimal control action via a distributed receding-horizon computational paradigm.