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 […]
Nearly 150 former City Link staff are preparing to take group employment action against the failed parcels carrier in the hope of receiving a larger compensation payout.
A Birmingham contract haulier that entered administration earlier this year went from a £1m pre-tax profit to a £100,000 loss in just 20 months’ trading.
No doubt about it, 2012 was incredibly tough for UK logistics operators. Profits were low, costs were high and obtaining credit to invest remained hard. The double-dip recession we all feared is in danger of turning into triple-fall and GDP growth was more sluggish than a snail on valium. Forecasts for growth in 2013 range from 1% by the Bank of England (BoE) to 1.4% by the Confederation of British Industry, with the BoE also predicting that it will be […]