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. Following the purchase of the business from administration for £1.3m by Almtone on 12 May, creditors were left nursing a £5.3m shortfall. However, despite ridding itself of debt, the business only narrowly avoided being wound up by HMRC last month after the taxman raised a petition against it. This came as […]
The administrator attempting to salvage Prolog said it is in discussions with more than 70 interested parties to try and agree a sale of the Nottinghamshire warehouse and distribution firm. Chris Tindall
Bibby Distribution won back Tetrosyl from Canute Haulage Group just days before its rival’s pre-pack sale
Canute Haulage Group surrendered a contract with car care products manufacturer Tetrosyl days before its controversial pre-pack administration.
A bad debt and the loss of its largest client set off a chain of events that sunk old Canute leading to a controversial rebirth in May, MT takes a closer look.