Trade creditors of Prolog may only receive a tiny fraction of the estimated £10m owed to them after the company entered administration and was then sold off in parts. In a report to creditors, Mazars said the warehouse and distribution firm – registered at Companies House as Promotional Logistics but which traded as Prolog – had been incurring trading losses for six years before financial support was withdrawn in November 2018. It entered administration shortly afterwards and was immediately put […]
More than one-third of transport and haulage businesses in the UK are at risk of collapse, according to insolvency trade body R3.
An operator that worked as a subcontractor for City Link has claimed it has been left thousands of pounds out of pocket by the parcel carrier’s collapse last month.
FRP Advisory, the administrators of Charles Gee Group, has confirmed to Motortransport.co.uk that it is still seeking a buyer for some of its road transport interests.