The government has rejected calls from two select committees for an urgent change in insolvency law, after the collapse of City Link last Christmas left sub-contractors and non-secured creditors £30m out of pocket. A joint-report from Department for Business, Innovation and Skills and Scottish Affairs Committees in March called for the government to change the order in which staff, subcontractors and suppliers are paid during insolvency, to prioritise payments to the employers’ workers, even if they were self employed, before […]
Prolog, a Nottinghamshire warehousing, distribution and logistics service, is expected to enter administration next week (26 November), its proposed administrator has confirmed.
BC Transport owed almost £1.5m when it was placed into administration earlier this month, and unsecured creditors are unlikely to recover any money despite the subsequent sale of the business.
The liquidator for Seafield Logistics received unsecured claims of more than £7m.