Canute Group creditors facing £11m hit after successive collapses, report confirms

Canute tractor unit in Windermere

Unsecured creditors of Canute Haulage Group and its successor are set to be left almost £11m out of pocket after last year’s doubleheader of collapses. Following the operator’s pre-pack administration in May, unsecured creditors of the original business were left facing at a £5.3m shortfall. However, a newly published Statement of Proposals covering the resurrected business – Almtone trading as Canute Group – reveals that it racked up its own sizeable debts in the months before it succumbed days before […]