The Canute Group, owned by Almtone, is expected to make an official announcement about its closure tomorrow afternoon. This is despite an apparently premature tweet from the company’s official Twitter account dated 19 December that reads: “It is with great sadness that we have had to post that The Canute Group have now ceased trading. “We would like to thank our customers, suppliers and staff, who have supported us over the last 40 years.” However, a source at the company […]
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.
Trade creditors of Nottinghamshire warehouse and logistics provider Prolog are set to receive just 4p in the pound, after administrators found there were insufficient funds to pay them in full.
Transport firms facing collapse in the wake of the Covid-19 pandemic have been thrown a lifeline in the form of a new law.