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. The company has been sold to Almtone, a holding company registered in September 2017, for an undisclosed sum. Almtone shares a common director with Canute Group in the form of Glenn Marshall. The other listed director, and sole shareholder of Almtone, is Michael Ventham. The new business will continue to […]
Canute Group has confirmed that its operations director Gary Sharp has retired.
The reign of Almtone-owned Canute Group came to an end today (21 December) just over seven months after it began with the pre-pack administration and sale of its predecessor company.
Almtone-owned Canute Group will cease trading ahead of Christmas with the loss of 600-plus jobs, after attempts to revive the business in May via a controversial pre-pack sale failed.