Canute Group has been forced to reassure staff that the business will endure after a delay in paying wages earlier this month. In a letter to employees, seen by MT, Canute director Noel Marshall attributed staff payment delays to problems arising from the company’s decision to switch banks earlier this year, which “proved to be the wrong choice”. The subsequent move to a new lender to address this is understood to have resulted in a delay in staff being paid, […]
The Canute Group, owned by Almtone, is expected to make an official announcement about its closure tomorrow afternoon.
Struggling Canute Group has completed a pre-pack sale, in a move that saves 800 jobs at the business but will likely leave some creditors of the firm out of pocket.